Woofun AI data shows that the storage sector experienced a significant sell-off on July 16. SanDisk shares fell by nearly 11%, leading the decline among major industry players.

Other key manufacturers also posted substantial losses during the session. SK Hynix and Western Digital both dropped by approximately 9%, while Seagate Technology declined by over 8%. Micron saw its shares fall by more than 6% amid the broader sector weakness.