San Disk and SK Hynix’s stock prices are “40% off” for half a month! Reporters hit Huaqiangbei: Prices of memory modules have quietly dropped, and merchants are afraid to stock up
In the past half month, the global memory chip sector has experienced a violent price correction. The leading memory chip stocks in the US and South Korean stock markets have all been spared. They have collectively fallen into a downward channel. The industry's "super cycle" is facing re-examination. Memory chip stocks suffered a "black July": the world's leading stocks collectively "discounted 40% off" In the U.S. stock market, the stock prices of major memory chip companies generally fell.
In the past half month, the global memory chip sector has experienced a violent price correction. The leading memory chip stocks in the US and South Korean stock markets have all been spared. They have collectively fallen into a downward channel. The industry's "super cycle" is facing re-examination. Memory chip stocks suffered a "black July": global leading stocks collectively "discounted 40%" In the U.S. stock market, the stock prices of major memory chip companies generally fell. Micron Technology (MU.O), as an industry benchmark, closed at $853.2 per share on July 16 half a month later from its high of $1,255 per share on June 25, a drop of 32.02%. SanDisk (SNDK.O) performed even weaker, from a high of $2,354.39 per share on June 22 to closing at $1,411.08 per share on July 16, a drop of 40.07%. Hard disk storage companies such as Western Digital and Seagate Technology were also not spared. Western Digital fell from a high of $799.87 per share on June 18 to $466.81 per share, and Seagate Technology fell from a high of $1,145 per share on June 18 to $745.49 per share, with declines of 41.64% and 34.89% respectively. The memory chip duo in South Korea's stock market encountered more severe selling pressure. Samsung Electronics (005930.KS) dropped from a high of 374,500 won per share on June 19 to 247,000 won per share on July 14, a drop of 34.05%. SK Hynix (000660.KS) fell even more significantly. From its high of 2.987 million won per share on June 25, it plummeted to 1.678 million won per share on July 14, a drop of as much as 43.83%. It is worth noting that although the stock prices of Samsung Electronics and SK Hynix rebounded on July 15, they then turned downward. Reporter Huaqiangbei visited: The price of memory modules has quietly dropped, and merchants are afraid to stock up. "In the past year, all the money has been made by memory factories and chip factories. We only earn a little manual labor for assembling computers." A boss who has been running a computer assembly business in Huaqiangbei for 20 years told reporters that this summer vacation is the "most expensive computer assembly season in history" he has experienced. He said: "Compared with last summer vacation, except for the price of the host casing, everything else has increased, and the memory has increased by about five times. Our business is obviously not as good as in previous years. In previous years, when students came to assemble a computer during the summer, it would cost more than 2,000 yuan. Now it costs at least 4,000 yuan, and the price has increased by about double. A better gaming computer now starts at 10,000 yuan." The boss said frankly that since the prices of computer memory and hardware have soared, there have been significantly fewer customers. "In addition to student customers and corporate customers, now only people who just need computers will come to buy computers. If you are not in a hurry to use computers, you can actually wait. I don't think the price of anything will keep rising." In terms of brand computers, starting from June 25, the price of Apple laptops has increased by 900 yuan to 3,000 yuan per unit. Starting from July 1, the price of many Lenovo notebooks will increase by 1,000 yuan, and the price of Honor MagicBook Pro notebook will increase by 500 yuan each. In addition, the prices of notebook brands such as Redmi and VIVO have also been increased. At a brand computer store in Huaqiangbei, a clerk told reporters: "In early July, the price of brand computers increased again. After the price increase, sales volume dropped significantly. Our store and brand do not want computer prices to increase, because the acceptance of computer prices by customers and the market is limited. It feels like the price limit is now reached." Subsequently, the reporter visited memory and hardware merchants in Huaqiangbei as a consumer. The reporter learned that the current price of a 1TB SSD from imported brands such as Samsung and Micron is 880 yuan, which is more than 10% lower than the previous price of more than 1,000 yuan; while the price of 16G DDR4 memory from Samsung and other brands is 650 yuan, which is more than 800 yuan, down about 20% from the previous price. The price of 16G DDR5 memory is in the range of 1,080 yuan to 1,200 yuan, which is nearly 30% lower than the previous price of 1,500 yuan.
In the Huaqiangbei second-hand market, the price of second-hand 16G DDR4 memory is about 450 yuan, which is a drop of more than 30% from the price of more than 700 yuan at the beginning of the year. A boss who specializes in selling memory told reporters: "The prices of memory and hardware are not determined by our merchants, but are caused by comprehensive factors such as fluctuations in international memory chip prices. Recently, memory prices have increased five or six times compared with the same period last year, but compared with the high point at the beginning of this year, they have dropped by about 30%." In the face of the recent collective 30% to 40% plunge in memory chip stocks in global stock markets, a merchant in Huaqiangbei told reporters: "What I am more concerned about is, if the chill in stock prices is eventually transmitted to the terminal, how long can the memory sticks stay at a high level? There has been some loosening in memory prices recently, and we dare not hoard too much goods." Behind the callback: from "super cycle" to "cyclical revaluation" According to market analysts, this round of collective correction in memory chip stocks marks a re-examination of the industry’s “super cycle” narrative. Excessive early increases were the direct cause of the correction. Since the second half of 2025, the memory chip industry has experienced an unprecedented price increase cycle driven by the demand for AI computing power. Recently, news such as Meta's sale of computing power has intensified the market's concerns about excess AI computing power. Analysts pointed out that whether the "super cycle" of memory chips can continue depends on the game between the persistence of AI demand and the pace of supply expansion. (
In the Huaqiangbei second-hand market, the price of second-hand 16G DDR4 memory is about 450 yuan, which is a drop of more than 30% from the price of more than 700 yuan at the beginning of the year. A boss who specializes in selling memory told reporters: "The prices of memory and hardware are not determined by our merchants, but are caused by comprehensive factors such as fluctuations in international memory chip prices. Recently, memory prices have increased five or six times compared with the same period last year, but compared with the high point at the beginning of this year, they have dropped by about 30%." In the face of the recent collective 30% to 40% plunge in memory chip stocks in global stock markets, a merchant in Huaqiangbei told reporters: "What I am more concerned about is, if the chill in stock prices is eventually transmitted to the terminal, how long can the memory sticks stay at a high level? There has been some loosening in memory prices recently, and we dare not hoard too much goods." Behind the callback: from "super cycle" to "cyclical revaluation" According to market analysts, this round of collective correction in memory chip stocks marks a re-examination of the industry’s “super cycle” narrative. Excessive early increases were the direct cause of the correction. Since the second half of 2025, the memory chip industry has experienced an unprecedented price increase cycle driven by the demand for AI computing power. Recently, news such as Meta's sale of computing power has intensified the market's concerns about excess AI computing power. Analysts pointed out that whether the "super cycle" of memory chips can continue depends on the game between the persistence of AI demand and the pace of supply expansion. (