Micron and SanDisk stocks are getting pummeled this week. Is the memory chip rally over?

Thanks for the memory? The stock prices of Micron Technology Inc (Nasdaq: MU) and SanDisk Corp (Nasdaq: SNDK), two of the top publicly traded memory chip storage companies, are taking a beating this week, halting a stunning rally that began late last year. As of Thursday morning before the market opened, Micron shares were down almost 10% over the past five days, and down 3.5% overnight. SanDisk shares were down more than 4% over the previous five days, and down 4.4% overnight. The broader market, on the other hand, has been flat, with the S&P 500 up barely 0.1% over the previous five days. AI-fueled RAM memory shortage The declines are a reversal of fortunes for the two chip stocks, which have had an incredible year so far, in large part due to a looming shortage of random access memory (RAM) storage. That shortage is being fueled by the AI boom, which requires a lot of memory and computing power. As tech giants build out massive AI data centers to power the boom, chipmakers simpl