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Sandisk and Micron Slide 5% as Samsung Miss Cools Memory Rally Ahead of Sandisk Earnings; SK Hynix Falls 3%, Western Digital Dips
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BizTocSandisk and Micron Slide 5% as Samsung Miss Cools Memory Rally Ahead of Sandisk Earnings; SK Hynix Falls 3%, Western Digital Dips
Samsung's profit miss just knocked the wind out of a memory rally that had bulls excited, and now Sandisk heads into its own earnings report with the sector selling off hard and a high bar to clear.
·Lakewood, United States
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Micron Technology's stock price closed down 5.9% yesterday. On the surface, this appears to be a sector-wide correction triggered by external news; however, a closer look reveals two underlying threads – one stemming from Samsung Electronics, and the other from the capital expenditure bills of Microsoft and Alphabet. While Samsung Electronics delivered record quarterly results, its net profit fell short of analysts' expectations. Multiple media …
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Leaning Left0Leaning Right0Center1Last UpdatedBias Distribution100% Center
Bias Distribution
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C 100%
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