With Memory chips (DRAM) down 3.7%, this looks like a sector-led move rather than a company-specific surprise.
Memory chip stocks are experiencing a significant sell-off after the CEO of major NAND producer Kioxia stated that memory prices have risen sufficiently, and the company would not be pursuing substantial further increases. These comments have tempered expectations for continued rapid price growth in the sector, leading to profit-taking after a period of strong gains. The broader memory sector is down, with notable declines in major players like SK Hynix, Micron, and Western Digital.