From 24/7 Wall Street, March 3:
- Micron (MU) is down 7% while SanDisk is down 6.8% in early trading today. Their sell-off comes after SK Hynix dropped 11.5% and Samsung dropped 9.9% in overnight trading. Lam Research (LRCX), which supplies the memory industry, has seen a 5% drop in early trading.
- The primary reason for the decline is rising energy prices, which could directly impact Korean memory manufacturers and halt broader economic growth.
Memory and storage stocks are getting hit hard in early trading Tuesday, with the catalyst coming from halfway around the world. South Korea’s KOSPI index cratered overnight as fears over the Iran conflict reignited concerns about a major energy price shock — specifically for liquefied natural gas. For a country that is one of the world’s largest LNG importers, this hits directly at the operating costs of the semiconductor fabs that make most of the world’s memory chips....
....MUCH MORE
Having found a site that combined memory chips and natural gas in one post I think my work here is done. As with the satire sites, reality has provided a logical endpoint and it may be time to shutter the blog and see what the lifestyle concierge has been planning for me.
We'll always carry with us the memories of the headline glory days though.
