Memory stocks slide on Apple-China chip reports and Samsung payout miss

Memory stocks fell sharply Monday as investors weighed reports that Apple could source chips from Chinese suppliers, disappointing news from Samsung, and broader semiconductor profit-taking. Micron dropped about 7%, SK Hynix fell 5%, and SanDisk declined 9%. The selloff followed reports that the Trump administration might allow Apple to buy DRAM from China's ChangXin Memory Technologies and NAND flash from Yangtze Memory Technologies. Analysts cautioned the threat may be overstated, noting CXMT is only qualified for one low-volume Mac product with poor yields. Samsung's weaker-than-expected shareholder return plan for 2026 also pressured the sector, while Nvidia's upcoming earnings report prompted broader semiconductor profit-taking. The Philadelphia Semiconductor Index fell about 4%.