Morgan Stanley: Sale of storage chip stocks seen as a healthy pullback.

Morgan Stanley analysts say that investors are selling American storage chip stocks to reflect concerns about long-term growth momentum. The analysts at the bank said that due to the shortage of storage chips driving up prices, shareholders are optimistic about short-term growth, but lack confidence in whether future growth can continue at this pace. Shares of SanDisk fell by 9% and shares of Micron Technology fell by 6%. The analysts at the bank say that given the recent months of gains, this is a healthy pullback, but they believe that demand will be enough to stimulate long-term growth.