SanDisk Craters 56% From Peak As Chip Stock Selloff At Wall Street Stays Unabated

SanDisk's stock has plummeted 56% from its June 21 peak due to intense competition from rivals like SK Hynix and Kioxia, which specialize in NAND flash memory. Additionally, China's breakthrough in mass-producing DUV lithography machines is putting pressure on global chipmakers, including ASML and US suppliers, raising concerns about their long-term growth prospects. The broader semiconductor market is experiencing a selloff, with other major players like Micron, AMD, and ASML also seeing significant declines.