Investing.com– and Samsung shares fell sharply on Thursday, leading declines across Asian memory chip stocks after overnight prints from and failed to impress.
SK Hynix was the worst performer in the sector, down nearly 9%, while fell about 6%. The two dragged South Korea’s down 4%.
Losses in memory stocks came tracking overnight declines in Western Digital and Sandisk.
Western Digital slid over 9% in aftermarket trade as its slightly above-consensus revenue forecast failed to impress investors. The stock has already tripled this year on outsized optimism over artificial intelligence-fueled demand for memory.
Sandisk tumbled about 8% after-hours after its profit forecast for the current quarter fell short of some lofty expectations.
The overnight prints raised renewed skepticism over sky-high memory and tech valuations stemming from the AI trade. Said concerns had spurred deep losses in the sector in July, leading to a shaky recovery in early-August.
But the recovery in chipmaking stocks now appeared to have stalled.
Asian chipmaking stocks fell across the board. Chinese memory chip giant CXMT slid nearly 4%, while Japan’s slid 8.5%.
Beyond memory, – the world’s biggest contract chipmaker– fell 1.5% in Taiwan trade, while – China’s biggest chipmaker– slid 4.3%.