Dell, Micron, SanDisk tumble as AI hardware rally hits reversal
On July 15, 2026, a broad selloff hit AI-linked hardware and chip stocks, with Dell, Micron, and SanDisk leading declines. Dell fell up to 12% after a report that Meta is planning to lease surplus AI capacity to enterprise customers, raising concerns about overbuilt data center infrastructure and slowing server orders. Rising memory costs and insider selling also pressured Dell. Micron dropped about 9% amid reports of potential tighter US export restrictions on high-bandwidth memory and competition from Chinese manufacturers. SanDisk slid sharply after a research firm cut its NAND flash outlook, citing faster-than-expected price declines and a supply surplus. AMD also fell in the broader retreat. Analysts described the moves as a valuation reset rather than a fundamental breakdown in AI demand, though uncertainty has increased ahead of quarterly earnings.
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