Guidance Miss Becomes a Bloodbath: DRAM’s 15% Implosion is At The Center Austin Smith June 8, 2026 6 min read MU 005930.KS CBOE 000660.KS AVGO Quick Read DRAM dropped 15% on June 5 and 20% over two days, with Samsung, SK hynix, and Micron comprising 73% of its holdings. Hock Tan guided AVGO's AI chip revenue to $16B versus $17.2B expected, triggering HBM demand fears that sent MU down 13% on the day. Micron's June 24 earnings will confirm or crush the HBM pricing thesis, the only signal capable of reversing Friday's memory selloff.
Act now: the analyst who called NVIDIA in 2010 just named his top 10 AI stocks — and Roundhill Memory ETF didn't make the cut. Grab the names FREE today. The Roundhill Memory ETF (CBOE:DRAM) closed Friday, June 5, 2026 at $55.79, down 15% on the day from a prior close of $65.70.
Over the two-day window from June 3 through June 5, the fund dropped 20%, going from $69.71 to that Friday close. If you had $10,000 in DRAM at Wednesday's open, you had roughly $8,000 by Friday's bell. The interesting part is why a single ETF could move that hard while the VIX sat at 15.40, well inside its normal range.
An ETF that is essentially three stocks in a trench coat DRAM is the only pure-play memory ETF on the market, and its fact sheet makes clear what that means. As of May 11, 2026, the top three holdings were Samsung Electronics at 24.99%, SK hynix at 24.22%, and Micron at 23.83%. That is 73.04% of the fund in three names, all making the same product for the same customers.
The remaining sleeve is more of the same logic: Kioxia at 4.87%, SanDisk at 4.66%, Western Digital at 4.64%, Seagate at 4.49%, and a few smaller Taiwanese names. The expense ratio is 0.65%. There is nowhere to hide inside this wrapper.
When the memory complex breaks, the ETF breaks with it, and there is no software ballast or industrial diversifier to soften the move. On Friday, Micron Technology (NASDAQ:MU) fell 13%, from $996 to $864. SanDisk (NASDAQ:SNDK) dropped 11% to $1,559, and Western Digital (NASDAQ:WDC) fell 11% to $512.
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