US Stock Market Moves | Storage Chip Concept Stocks Generally Fall, Seagate Technology (STX.US) Drops Over 7%
On Tuesday, storage chip concept stocks generally declined, with Seagate Technology (STX.US) falling more than 7% and Western Digital (WDC.US) dropping nearly 7%.
Zhitong Finance APP reported that on Tuesday, storage chip-related stocks mostly fell. Seagate Technology (STX.US) dropped over 7%, Western Digital (WDC.US) fell nearly 7%, SK Hynix (SKHY.US) declined 3%, and SanDisk (SNDK.US) fell over 2%. According to reports, on October 6, Seagate and Toshiba competed to acquire TDK's hard disk drive head business, with the transaction amount possibly reaching several billion US dollars. The expenditures for mergers and acquisitions, integration effects, and changes in supply chain competition patterns have increased short-term uncertainty. Following the news, shares of Seagate and Western Digital weakened simultaneously.
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