Why Sandisk Stock Is Falling Today

Sandisk Corporation (NASDAQ:SNDK) stock is falling, down 8.2% as of 2:15 p.m. ET on Friday, Nov. 13, as the sell-off in AI hardware that started with Nvidia's CEO exit spreads through memory and storage names for a second day.

The S&P 500 (SNPINDEX:^GSPC) and the Nasdaq Composite (NASDAQINDEX:^IXIC) are down 0.8% and 1.3%, respectively.

On Thursday, Nvidia (NASDAQ:NVDA) CEO Jensen Huang resigned, effective immediately, following reports of two affairs, including one with an alleged Chinese spy. The scandal extends beyond the personal and into matters of national security. Questions of how billions of dollars of Nvidia chips made their way into China and if any Nvidia officers knowingly skirted U.S. export controls, as well as who will permanently step in as CEO, will be top of mind for investors when Nvidia hosts its first earnings call without Jensen Huang next week.

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