US Stock Movers: Storage Chip Stocks Decline Broadly, Seagate Technology (STX.US) Falls Over 7%
Stock News
Oct 06
On Tuesday, storage chip concept stocks declined broadly, with Seagate Technology (STX.US) dropping more than 7%, Western Digital (WDC.US) falling nearly 7%, SK Hynix (SKHY.US) slipping 3%, and SanDisk (SNDK.US) declining over 2%.
On the news front, on October 6, Seagate was reported to be competing with Toshiba to acquire TDK's hard drive head business, with the deal amount potentially reaching billions of dollars; merger expenses, integration outcomes, and changes in the supply chain competitive landscape have increased short-term uncertainty. Following the release of related news, Seagate and Western Digital share prices weakened in tandem.
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