KIOXIA is trading 4.1% down now at $32.30 after a sharp reversal from the August 17 rally and August 18 decline, as rising bond yields pressured high-growth technology valuations and investors questioned Big Tech’s AI spending.
- Asian chip stocks sold off on August 19; KIOXIA fell as much as 11% in Japan.
- No new negative company-specific catalyst was identified.
- KIOXIA and SanDisk announced higher-density QLC 3D flash technology, a positive announcement that does not explain today’s decline.