QUICK SPARK: Micron, SK Hynix And Memory Stocks Wipe Out More Than $2 Trillion Since June Highs

The AI memory trade has flipped from Wall Street’s hottest bet to one of its biggest wealth destroyers.

Since peaking in late June, the world’s largest memory and storage companies have erased more than $2 trillion in combined market capitalization Samsung Electronics Co.

Ltd. (OTC: SSNLF ) has lost about $546 billion SK Hynix Inc. (NASDAQ: SKHY ) over $501 billion Micron Technology Inc. (NASDAQ: MU ) roughly $440 billion Kioxia Holdings Corp. (OTC: KXIAY ) SanDisk Corp. (NASDAQ: SNDK ), Western Digital Corp. (NASDAQ: WDC ) and Seagate Technology Holdings plc (NASDAQ: STX ) have also suffered sharp declines.

Company Market Cap Lost From High Samsung Electronics $545.73B SK Hynix $501.83B Micron Technology $439.72B Kioxia Holdings $218.99B SanDisk $181.88B Western Digital $98.72B Seagate Technology $77.56B Total $2.06 Trillion Source: Koyfin The rout accelerated this week after China’s memory giant ChangXin Memory Technologies (CXMT) went public in Shanghai, prompting investors to shift their focus from booming AI demand to the risk that surging Chinese capacity could spark a new price war across the memory industry, despite hyperscalers continuing to ramp up AI spending.

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