Storage Chip Index Falls 6.4% as Semiconductor Sector Declines on July 15

The U.S. storage chip index fell 6.4% and the semiconductor index declined 2.1% on July 15, with the Nasdaq-100 down 0.3%. Storage-related stocks led losses: Western Digital dropped 8.7%, SanDisk fell 8.5%, Micron declined 7.9%, and Lumentum slid 7.3%. Seagate, Cisco, Intel, CoreWeave, and AMD each fell at least 3.4%.

Tech giants showed mixed performance. Apple rose 4.1%, Meta and Alphabet A each gained 3%, and Thomson Reuters climbed 4.2%, while PayPal surged 17.4%. Amazon, Microsoft, 3M, and Merck also posted gains exceeding 2%.