US market update: Micron and SanDisk both declined in sync, showing clear divergence in their price trends

I. Fundamental Differences (Root Cause of Divergent Performance)

Micron benefits from its HBM-based computing memory business, which provides a fundamental buffer backed by long-term AI-related orders that underpin earnings resilience. In contrast, SanDisk is purely exposed to NAND flash and SSD modules, lacking any HBM operations to hedge against cyclical volatility, leaving it with weaker fundamental risk resistance. Compounded by continuous bearish sentiment from Citron Research, the market increasingly views NAND as merely a commodity subject to cyclical swings, disqualifying it from the long-term growth narrative associated with AI chips, prompting sustained capital outflows from NAND-focused names.

II. Current Technical Picture

1. SanDisk (SNDK)

Since its June peak, the stock price has nearly halved, marked by consecutive high-volume sell-offs. It has decisively broken below the key medium-term support level at USD 1,300, with all moving averages now aligned bearishly. The MACD shows a deep death cross trending lower, indicating clear panic selling. Currently, only minor oversold bounce potential exists; the overall downtrend channel is fully open, with the next key support level seen at the USD 1,000 mark.

2. Micron (MU)

Micron has also experienced a sustained pullback, breaking below its 50-day moving average short-term support, with the RSI entering a阶段性 oversold zone. However, thanks to HBM-driven fundamental support, both the magnitude and pace of its decline are significantly milder than SanDisk’s. Its 60-day moving average now serves as a critical bull-bear support line, and its medium-term uptrend structure remains largely intact—this correction appears primarily driven by technical profit-taking from elevated levels.

III. Brief Summary

In this round of memory stock declines, SanDisk suffers from a double whammy of cyclical headwinds and technical breakdowns, facing stronger downward pressure; Micron, anchored by HBM fundamentals that cap valuation downside, is merely experiencing a normal high-level correction. Short-term sector sentiment remains subdued, and any rebound is likely to be corrective in nature, making an immediate reversal of the downtrend unlikely.

(For market analysis purposes only; not investment advice)

$Micron Technology (MU.US)$ $SanDisk (SNDK.US)$ $ASML Holding (ASML.US)$ $Nasdaq (NDAQ.US)$

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