Overview
- On Korea’s first session after a holiday, SK Hynix fell 11.5% and Samsung dropped 9.9% as foreigners pulled about $3.7 billion from KOSPI stocks, per Bloomberg.
- The rout spread to U.S. names, with SanDisk down 8.7%, Micron off 8%, Western Digital sliding 7.2% and Seagate losing 5.8%.
- Traders linked the move to Iran-related energy risks that lifted LNG prices, raising cost concerns for South Korea’s power-intensive chip fabs.
- Mizuho’s Jordan Klein said the decline reflects overbought positioning rather than deteriorating fundamentals, while UBS raised its Micron target to $475 and Stifel set a Street-high $550.
- Micron shares are down roughly 11% over five days and rebounded about 2% Wednesday, with Q2 FY26 results due March 18 and consensus modeling EPS near $8.54 on $18.88 billion of revenue.