Shares of memory storage company SanDisk Corp. have fallen 50% from their June high. SanDisk Corp. closed at $2,335 on June 25. Driven by an AI-fueled shortage of storage chips, the stock soared throughout the first half of 2026, gaining more than 850% by June.

However, during Tuesday's pre-market trading, SanDisk Corp. plunged over 14%, with shares trading at approximately $1,090. In just over a month, the cumulative decline has reached 53%. In the first half of 2026, massive capital flooded into the memory chip sector. But in recent weeks, investor sentiment has turned cautious, leading to consecutive sell-offs in the storage segment, while the broader semiconductor chip market has also weakened.

Despite this sharp pullback, SanDisk Corp. remains the best-performing stock among S&P 500 components this year, still up over 360% year-to-date.