TradingKey – On October 12, US memory stocks generally weakened in pre-market trading. After Chinese memory chipmaker ChangXin Memory Technologies (CXMT) announced R&D progress on its next-generation DRAM technology, the market refocused on the competitive landscape of the global memory industry, while memory stocks that had previously surged continued to experience profit-taking.

As of early Monday pre-market trading US Eastern Time, Micron Technology (MU), SanDisk (SNDK), and Western Digital (WDC) fell over 2% at one point, while Seagate Technology (STX) dropped more than 1%. In the preceding week, the memory sector had already pulled back significantly, with the Roundhill Memory ETF declining 7.4% for the week, marking its worst…