US memory chip stocks have lost almost $100bn in market value this week, hit by new Google research that pointed to an easing of the AI-driven hardware shortage that had sent chipmakers’ shares to record highs.
Shares in US memory maker Micron have shed more than $70bn in market capitalisation since last Friday’s close, down 15 per cent, amid a broad sell-off on Wall Street.
Sandisk, the maker of flash memory devices that was the best-performing stock in the S&P 500 last year, lost around $15bn in value during the week, while storage companies Western Digital and Seagate each lost billions.
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