Micron and Sandisk drop on double dose of bad news — blame Broadcom and SK Hynix

Micron and Sandisk shares fell more than 6% on Thursday after Broadcom's disappointing results dragged down the AI sector, while a Reuters report that SK Hynix received strong investor backing for its planned US listing added pressure on the two memory giants. The South Korean chipmaker told investors it expects favorable pricing for its high-bandwidth memory chips to continue into next year and that strong demand from Nvidia for its new power-efficient LPDDR memory could further tighten supply from 2027. SK Hynix's potential US listing would give American investors a direct alternative to Micron, which is currently the only US-listed company among the top three memory producers.

Micron and Sandisk drop on double dose of bad news — blame Broadcom and SK Hynix Micron https://robinhood.com/us/en/stocks/MU/?source=sherwood and Sandisk https://robinhood.com/us/en/stocks/SNDK/?source=sherwood are both down more than 6% on Thursday, as Broadcom's underwhelming results weigh on the entire AI complex. https://sherwood.news/markets/broadcoms-underwhelming-results-are-dragging-the-ai-complex-and-the-wider-market-lower/ But the two memory giants might be under more pressure than others for another reason, too. Reuters reported https://www.reuters.com/world/asia-pacific/sk-hynix-tells-investors-its-us-listing-plan-wins-their-strong-backing-source-2026-06-04/ that Korean rival SK Hynix told investors this week that it received strong backing on its proposed US listing, potentially giving US investors an alternative way to play the memory chip crunch. Citing a source familiar with the matter, the Reuters report outlined that the South Korean chipmaker received “tremendously positive” feedback from stockholders, thanks to growing AI demand and SK Hynix’s competitive position in the memory-chip market. Noting discussions with customers on future pricing of its advanced chips, the company reportedly also told investors that it expects a favorable pricing environment for its high-bandwidth memory HBM chips to continue into next year, and a strong demand for its new, power-efficient https://www.tomshardware.com/pc-components/dram/sk-hynix-introduces-turbocharged-lpddr6-33-percent-faster-and-20-percent-more-power-efficient-than-lpddr5x-16gb-chips-deliver-10-7-gbps-uses-10nm-node LPDDR memory from Nvidia that could further tighten memory supply from 2027. Back in March, SK Hynix announced that it had filed an application to list ADRs with the SEC, the review of which remains underway, with aims to go stateside within 2026 https://www.reuters.com/world/asia-pacific/sk-hynix-tells-investors-its-us-listing-plan-wins-their-strong-backing-source-2026-06-04/ . Reuter’s cited source noted that the size and pricing of the listing still haven’t been decided, but local Korean media had reported that the company could raise up to $10 billion https://www.barrons.com/articles/sk-hynix-stock-adr-us-listing-micron-39aa80f0 back in March, when SK Hynix had a market valuation of less than half of what it is today. Micron is currently the only US-listed company out of the top three memory producers Samsung being the other . SK Hynix remains ahead of Micron across the memory landscape, according to the latest available market share by revenue data from Counterpoint Research, including DRAM https://counterpointresearch.com/en/insights/global-dram-revenue-surges-to-near-dollar-100-billion-mark-in-q1-2026 SK Hynix 29% vs. Micron 22% , NAND https://counterpointresearch.com/en/insights/nand-revenues-record-high-q1-2026-from-ai-demand 18% vs. 13% , and HRM https://counterpointresearch.com/en/insights/global-dram-and-hbm-market-share 57% vs. 21% chips.