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SanDisk stock fell 10%-14% in an AI chip selloff. Here's what caused the drop, why fundamentals remain intact, and the key levels and catalysts to watch next.

TradingKey - On July 6, Eastern Time, US stocks regained momentum following the Independence Day holiday weekend, driven primarily by a rebound in AI and chip stocks. Investors returned to semiconductors, artificial intelligence infrastructure, and mega-cap tech stocks, while beginning to position t

Japanese and South Korean stock markets plunged at the open, with the KOSPI Index falling below the 8,000-point mark and the Nikkei 225 dropping below 70,000 points. Samsung Electronics, Kioxia, and SK Hynix fell sharply across the board, while SoftBank bucked the trend to post gains.

TradingKey - Market expectations that Samsung Electronics will soon announce a positive profit alert in its preliminary Q2 earnings, coupled with SK Hynix officially launching its roadshow for a US listing, fueled strong market sentiment. The three major US stock indexes rose across the board, with the Dow Jones Industrial Average continuing to hit record highs and the Nasdaq Composite Index strengthening, led by gains in chip and memory stocks. At the close, the Dow Jones Industrial Average rose 0.29% to 53,055.91 points; the Nasdaq Composite Index rose 1.12% to 26,121.16 points; and the S&P 500 Index rose 0.72% to 7,537.43 points.

TradingKey - Meta (META) recently proposed launching a cloud infrastructure service named "Meta Compute," planning to sell its excess AI computing power to external customers and considering allowing developers to access AI models hosted on Meta's infrastructure. Influenced by this, Meta closed up 8.81% on the day at $612.91. Meanwhile, major cloud providers such as Amazon (AMZN), Alphabet (GOOGL), and Microsoft (MSFT) all posted weekly gains of over 4%. Just two months prior, market concerns over high valuations had dragged down the share prices of these tech giants. Morgan Stanley stated that as investors take profits on tech stocks that led the gains earlier this year, it will be difficult for the US stock market to reach new highs.

TradingKey - On July 6, Eastern Time, the three major US stock indexes diverged as AI hardware stocks rebounded. JPMorgan Chase stated that a trio of positive catalysts is supporting demand for AI infrastructure. The Nasdaq Composite Index recovered its losses from the previous two sessions, the Philadelphia Semiconductor Index rose over 3%, and the Dow turned lower after hitting a new high. As of press time, the Dow Jones Industrial Average fell 0.05% to 52,874.57 points; the Nasdaq Composite Index rose 1.35% to 26,182.40 points; and the S&P 500 Index rose 0.71% to 7,536.62 points.

TradingKey - On July 6, Eastern Time, Dell (DELL) briefly rose to $429.74, returning to an upward trend. As of press time, it was up over 8%. It is reported that Dell computers were recommended to the public, with explicit recognition given to Dell's CEO for his investment support of the heavily promoted "Trump Account" project. Funded with initial seed capital and matching tax incentives provided by the U.S. Department of the Treasury, this children's investment account project is a key livelihood policy introduced by the current administration.

TradingKey - Samsung Q2 2026 earnings on July 23 are expected to show a 17-fold operating profit surge to ₩86T. Stock at ₩318,000 — up 456% in a year but down 15% from its ATH. Buy the double bottom or wait?

TradingKey - Microsoft (MSFT) has officially implemented a new round of workforce optimization, laying off 4,800 employees across the company with immediate effect on the same day, representing 2.1% of its total workforce, with the gaming business serving as the core area of contraction. The Xbox division is the hardest-hit area of this adjustment, with cumulative layoffs projected to reach 20% by fiscal year 2027, to be rolled out gradually in phases. In addition to the layoffs, Microsoft has simultaneously initiated a review of its gaming assets, with four studios spinning off from its ecosystem: Compulsion Games and Double Fine, acquired in earlier years, will return to independent operations; Ninja Theory and Undead Labs will change ownership; and France-based Arkane Studios is also moving forward with an evaluation of strategic options.

TradingKey - PepsiCo reports Q2 2026 on July 9 with consensus EPS of $2.21. Multiple analysts cut targets. At $144 — 8.5% above its 52-week low — the bar looks low. Here’s what the print needs to show.

TradingKey - As the temporary ceasefire agreement between the US and Iran takes effect and shipping through the Strait of Hormuz gradually resumes, the global crude oil market is undergoing a dramatic reversal. The narrative of supply shortages, once strained by geopolitical conflicts, has faded, replaced by concerns over a potential supply glut. OPEC+ is facing unprecedented policy challenges as it struggles to find a balance between recovering production and price stability.

TradingKey - On July 6, Eastern Time, Broadcom (AVGO) filed a document with the US Securities and Exchange Commission (SEC), disclosing that it has reached a multi-year agreement with Apple (AAPL) to extend their technical cooperation through 2031. Under the agreement, Broadcom will develop and supply a range of custom ASIC chips for multiple generations of Apple products, including iPhone RF chips, wireless LAN and Bluetooth connectivity chips, and other networking semiconductors. Following the announcement, Broadcom's share price rose over 4% in US pre-market trading.

TradingKey - Palantir grew revenue 85% in Q1 2026 with a Rule of 40 score of 145% — matching Nvidia, Micron, and SK Hynix. Down 31% YTD at $129. Is the valuation the only bear case left?

TradingKey - On July 6, Eastern Time, just one day before SpaceX (SPCX) was officially included in the Nasdaq 100 Index, the company submitted a routine semi-annual report to the U.S. Federal Communications Commission (FCC). The report shows that over the past six months, SpaceX actively deorbited 260 Starlink satellites, with another 349 retired satellites awaiting disposal. The total of 609 satellites accounts for 5.7% of its active in-orbit constellation.

TradingKey - Apple reclaimed $300 after reports it’s sourcing memory from blacklisted Chinese chip firms CXMT and YMTC. At $305 with Q3 earnings July 30 and iPhone 18 Pro memory up 271%, here’s the full picture.

TradingKey - Amazon's (AMZN) AWS is accelerating its self-developed AI chip strategy. According to supply chain sources, AWS has notified relevant suppliers to increase its ASIC server shipment targets for the third quarter of 2026 by 20% to 30% compared to the original plan.

TradingKey - On July 6, Eastern Time, U.S. stock index futures rose collectively in pre-market trading, led by the technology sector. As of press time, Nasdaq 100 Index futures rose 1.04%, S&P 500 Index futures rose 0.46%, and Dow Jones Industrial Average futures rose 0.06%.

TradingKey - On July 6, Intel (INTC) officially confirmed that it has raised the recommended retail prices for some of its consumer and server processors, with price increases ranging from dozens of dollars to over a thousand dollars.

TradingKey - During the Asian session on July 6, WTI (USOIL) crude oil prices extended their rebound from last Friday, surging to an intraday high of $69.26 before consolidating around $68.60. From a technical perspective, oil prices are recovering after previously falling to a near four-month low. However, the strength of this rebound remains limited, primarily due to the resumption of navigation through the Strait of Hormuz and OPEC's production increase measures.

Ethereum has surged over 12% over the past seven days and is currently forming a W-pattern, presenting a strong bullish signal.