On July 27, Silicon Motion Technology fell 5.28% in regular trading, trading at $253.775/share, with turnover of $24.06 million.
On the news front, Morgan Stanley issued a latest report warning that the AI-driven semiconductor storage industry boom is approaching an inflection point, with memory contract prices expected to peak in Q4, signaling a profound shift in the current industry cycle. The storage chip sector came under broad selling pressure, with Micron Technology down 3.45%, SK hynix down 3.77%, and Advanced Micro Devices down 4.09%.
Despite Silicon Motion Technology's current quarter revenue expected to grow 123.78% year-over-year to approximately $403 million with adjusted EPS of $2.14, cycle-peak expectations are suppressing sector valuations. The company is scheduled to report earnings on July 29.
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