SanDisk Drops 11% as Chip Stocks Sink While Software Soars at the Close
As seen on the 24/7 Wall St. homepage on July 27, 2026.
Software and entertainment stocks powered the close as SanDisk cratered 11.13% on what looks like broad chip sector fatigue hitting even memory makers.
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The session's sharpest divide ran straight down the technology sector on July 27, 2026. Memory and semiconductor names took heavy losses, with SanDisk (SNDK) falling 11.13% to $1,276.71, AMD dropping 5.47% to $493.39, Coherent sliding 5.35% to $267.29, and NVIDIA off 4.5% to $197.53. Cipher Mining added to the damage on the losing side, declining 7.97% to $21.31.
While chips struggled, software and entertainment names moved sharply in the other direction. Asana (ASAN) led all gainers with a 13.63% jump to $7.80, followed by Shopify (SHOP) up 10.68% to $125.90 and AMC Entertainment rising 9.91% to $2.50. Duolingo (DUOL) and C3.ai (AI) also posted strong finishes, gaining 8.42% and 8.4% to close at $132.53 and $8.84, respectively.
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The breadth of the chip-side selloff — spanning memory, graphics, and advanced materials — points to broad sector fatigue rather than a company-specific catalyst. Investors rotated into software and consumer-facing names, at least for the session, leaving the semiconductor group as the clear pressure point to watch heading into the next trading day.