The Zhitong Finance App learned that on Friday, US storage concept stocks fell collectively. SanDisk (SNDK.US) fell more than 9% at the beginning of the session, SK Hynix (SKHY.US) fell nearly 6%, and Micron Technology (MU.US) fell more than 3%. According to the news, SanDisk announced financial results for the first quarter of the 2027 fiscal year. Driven by a surge in demand for NAND flash memory driven by artificial intelligence infrastructure construction and rising product prices, the company's revenue for the quarter increased 378% year over year, and data center business revenue soared nearly 17 times. The company expects further revenue growth in the next quarter and announced the implementation of a 1-split 8-share split plan. However, strong performance has not stopped stock prices from falling, and market concerns about high valuations and the sustainability of memory chip prices are heating up.

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