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Opened high and closed low on Friday, with storage taking a backhand blow.
The US stock market was very divided on Friday. The Philadelphia Semiconductor Index once rose over 5%, Micron initially rose over 6%, SK Hynix rose over 8%, and SanDisk rose nearly 10%. However, it suddenly skidded during the session, wiping out all gains in the Philadelphia Semiconductor Index to turn negative; Micron closed down about 4.2%, and SanDisk fell over 6%. Why did it open high and close low? Four selling pressures were triggered simultaneously. ① Kioxia's earnings report missed expectations. On July 31, Kioxia released its quarterly earnings report, with performance below market expectations. The market interpreted this as "the AI-driven surge in flash memory prices may be slowing down." As soon as the news came out...
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