On August 6, Roundhill Memory ETF fell 5.86% in pre-market trading, trading at $50.67/share, with turnover of $8.73 million. The decline was driven by disappointing forward guidance from memory chip giants SanDisk and Western Digital, both of which reported earnings after hours on August 5.

Although SanDisk posted revenue of $89.7 billion, up 372% year-over-year, and adjusted EPS of $39.25 — both beating consensus — its next-quarter revenue guidance midpoint of approximately $105.5 billion fell significantly short of the $111.6 billion analysts had expected. Western Digital similarly beat current-quarter expectations but failed to satisfy elevated growth forecasts. SanDisk dropped over 8% after hours while Western Digital plunged more than 11%, dragging the broader memory complex lower.

Analysts note that in the current high-valuation environment, merely delivering a strong quarter is insufficient — investors demand continuously upgraded forward outlooks. The guidance shortfall represents an expectation gap correction across the storage sector, following a session just two days prior in which the ETF surged over 5% on news that major DRAM producers had sold out capacity through 2027.

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