On August 6, Roundhill Memory ETF fell 8.09% in regular trading, trading at $50.15/share, with turnover of $515 million.

The decline was triggered by disappointing forward guidance from storage chip giants SanDisk and Western Digital. Both companies reported earnings that beat market expectations the prior session after hours — SanDisk posted revenue of $89.7 billion (up 372% YoY) and adjusted EPS of $39.25, both above consensus. However, SanDisk issued next-quarter revenue guidance of $103-108 billion, with a midpoint of approximately $105.5 billion, significantly below the analyst consensus of $111.6 billion. Western Digital similarly failed to meet elevated growth expectations.

SanDisk fell over 8% after hours and Western Digital plunged over 11%, sparking a broad sell-off in memory stocks. Analysts noted that in the current high-valuation environment, merely delivering a strong quarter is insufficient — investors require consistently upward-revised guidance. The sell-off represents a classic expectations gap correction, with the market repricing near-term growth assumptions for the storage sector despite intact long-term AI memory demand.

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