Memory Chip Stocks Tumble on AI Capex Concerns

Western Digital (-16%) and Sandisk (-10%) plunge after guidance misses, reflecting AI capex concerns. SK Hynix premarket slip on misleading headline. Chip sector rotation continues. Intel's 389% surge on AI revenue contrasts sharply with memory weakness. New: Apple reportedly testing CXMT memory chips, which could alter supply dynamics and add pressure to incumbents.