Memory stocks open flat and then soar: Micron up 6%, SK Hynix 8%, SanDisk up 15%. Here’s what’s driving the move

Memory stocks surged, with SanDisk up 15% and Western Digital jumping 10%. The rally was driven by SanDisk's announcement of an 80% non-GAAP gross margin target through fiscal 2030, supported by new business model agreements with eight major customers covering two-thirds of bits shipped by FY2028. Micron and SK Hynix also rose significantly.

Quick ReadSanDisk (SNDK) surged 15% and Western Digital (WDC) jumped 10% after SanDisk's Investor Day targeted 80% non-GAAP gross margins sustained through fiscal 2030.SanDisk backed the bold margin forecast with New Business Model agreements signed with 8 customers covering two-thirds of bits shipped by FY2028.The 80% margin target is a non-GAAP f...