--- title: "SG Morning Brief | Memory Stocks Explode 11%, SOX Surges 5% as Chip Correction Reverses" type: "News" locale: "en" url: "https://longbridge.com/en/news/293400562.md" description: "US OvernightThe S&P 500 rose 0.89% to 7,509.20, the Nasdaq gained 1.29% to 25,837.21, and the Dow added 385.38 points (+0.74%) to 52,224.64, with all three indexes snapping three-day losing streaks. The semiconductor sector staged its most powerful rally in six weeks: the SOX surged 5.2% and the memory chip sub-index exploded 11.12% higher. Morgan Stanley predicted memory chip prices will keep rising on AI demand, and strong South Korean export data confirmed the demand thesis. Gold rose 1." datetime: "2026-07-22T00:48:18.000Z" locales: - [zh-CN](https://longbridge.com/zh-CN/news/293400562.md) - [en](https://longbridge.com/en/news/293400562.md) - [zh-HK](https://longbridge.com/zh-HK/news/293400562.md) --- # SG Morning Brief | Memory Stocks Explode 11%, SOX Surges 5% as Chip Correction Reverses ## US Overnight The S&P 500 rose 0.89% to 7,509.20, the Nasdaq gained 1.29% to 25,837.21, and the Dow added 385.38 points (+0.74%) to 52,224.64, with all three indexes snapping three-day losing streaks. The semiconductor sector staged its most powerful rally in six weeks: the SOX surged 5.2% and the memory chip sub-index exploded 11.12% higher. Morgan Stanley predicted memory chip prices will keep rising on AI demand, and strong South Korean export data confirmed the demand thesis. Gold rose 1.75% to $4,082.73. The 10-year yield edged up to 4.63%. WTI crude gained 2% to roughly $85. Earnings momentum remained strong: 88% of S&P 500 companies that have reported beat estimates, and FactSet raised the Q2 earnings growth forecast to 25%. General Motors gained nearly 5% on a top-and-bottom beat, and 3M surged over 7% on strong results and raised guidance. Software stocks fell over 1%, reversing the hardware-to-software rotation that had dominated the prior two weeks. ### Key Movers **Memory +11%: SanDisk +14% / Micron +12% / WDC +12% / Seagate +11%** — The memory complex roared back in its strongest session since early June. SanDisk gained 14.27%, Western Digital and Micron each surged over 12%, and Seagate added over 11%. The rally erased roughly half of the sector's July losses in a single session. Morgan Stanley's bullish call on memory pricing and South Korea's export data showing continued AI demand were the catalysts. **Intel (INTC) +9%** — Intel rallied nearly 9% after announcing further layoffs as part of CEO Lip-Bu Tan's broader restructuring. The market cheered the cost discipline. Bloomberg also reported Intel secured a new foundry customer, validating the 18A process node. AMD gained 8% after extending an AI deal with Microsoft. Marvell rose 7% and Astera Labs added 6%. **Software -1%** — North American tech software stocks fell over 1% as funds rotated back into hardware after two weeks of favoring software over chips. The reversal confirms that the hardware-software seesaw is driven by positioning and sentiment, not structural shifts. ## SGX Preview The STI was near 5,070. DBS near S$62.18, UOB near S$37.91. The memory explosion is strongly positive for Venture Corp and local semiconductor names. Oil at $85 is a headwind for import costs, partially offsetting the tech optimism. Tonight's Alphabet earnings will be closely watched after last week's Gemini delay selloff. ## Asia Pre-Market Super Micro Computer jumped in after-hours trading after preliminary results showed a rising order backlog, extending the positive semiconductor tone into Asia's session. Nvidia confirmed its latest chip designs are being delivered to customers. The setup heading into Alphabet's earnings tonight is the most constructive in two weeks. ## Today's US Earnings and Economic Calendar Event Time (ET) Time (UTC+8) Flash PMI (Jul) 9:45 AM 9:45 PM Company Timing **Alphabet (GOOGL)** **Post-mkt** Tesla (TSLA) reports Thursday post-mkt. IBM reports Thursday. **Earnings Spotlight: Alphabet** — Alphabet reports tonight after falling 4% last week on the Gemini 3.5 Pro delay. Investors will parse AI capex commentary, Search revenue trends, and whether the Gemini delay has a revenue impact. Tesla Thursday closes a week that will define the narrative for the rest of Q3. ## One More Thing Memory stocks gained 11% in a single session — erasing half of July's correction in one day. That tells you two things. First, the selloff was driven by positioning, not demand. Every fundamental data point — TSMC earnings, Micron guidance, HBM order books, SK Hynix ADR oversubscription — confirmed that AI memory demand is accelerating. The market was selling because it had too much exposure, not because something broke. Second, the bounce will be just as volatile as the selloff. A single bad headline — a Hormuz escalation, or a disappointing Alphabet number tonight — could reverse today's gains entirely. The chip correction is a trader's market, not an investor's market. Alphabet tonight draws the next line in the sand. _This briefing is for informational purposes only and does not constitute investment advice._ ### Related Stocks - [.SPX.US](https://longbridge.com/en/quote/.SPX.US.md) - [.IXIC.US](https://longbridge.com/en/quote/.IXIC.US.md) - [.DJI.US](https://longbridge.com/en/quote/.DJI.US.md) - [MS.US](https://longbridge.com/en/quote/MS.US.md) - [SNDK.US](https://longbridge.com/en/quote/SNDK.US.md) - [MU.US](https://longbridge.com/en/quote/MU.US.md) - [WDC.US](https://longbridge.com/en/quote/WDC.US.md) - [STX.US](https://longbridge.com/en/quote/STX.US.md) - [INTC.US](https://longbridge.com/en/quote/INTC.US.md) - [AMD.US](https://longbridge.com/en/quote/AMD.US.md) - [MSFT.US](https://longbridge.com/en/quote/MSFT.US.md) - [MRVL.US](https://longbridge.com/en/quote/MRVL.US.md) - [ALAB.US](https://longbridge.com/en/quote/ALAB.US.md) - [D05.SG](https://longbridge.com/en/quote/D05.SG.md) - [U11.SG](https://longbridge.com/en/quote/U11.SG.md) - [V03.SG](https://longbridge.com/en/quote/V03.SG.md) - [GOOGL.US](https://longbridge.com/en/quote/GOOGL.US.md) - [GOOG.US](https://longbridge.com/en/quote/GOOG.US.md) - [TSLA.US](https://longbridge.com/en/quote/TSLA.US.md) - [IBM.US](https://longbridge.com/en/quote/IBM.US.md) - [SMCI.US](https://longbridge.com/en/quote/SMCI.US.md) - [NVDA.US](https://longbridge.com/en/quote/NVDA.US.md) - [TSM.US](https://longbridge.com/en/quote/TSM.US.md) - [MS-O.US](https://longbridge.com/en/quote/MS-O.US.md) - [MS-Q.US](https://longbridge.com/en/quote/MS-Q.US.md) - [MS-E.US](https://longbridge.com/en/quote/MS-E.US.md) - [MS-I.US](https://longbridge.com/en/quote/MS-I.US.md) - [MS-L.US](https://longbridge.com/en/quote/MS-L.US.md) - [MS-P.US](https://longbridge.com/en/quote/MS-P.US.md) - [MS-A.US](https://longbridge.com/en/quote/MS-A.US.md) - [MS-F.US](https://longbridge.com/en/quote/MS-F.US.md) - [MS-K.US](https://longbridge.com/en/quote/MS-K.US.md) - [WDCVV.US](https://longbridge.com/en/quote/WDCVV.US.md) - [UOVEY.US](https://longbridge.com/en/quote/UOVEY.US.md) - [NVD.DE](https://longbridge.com/en/quote/NVD.DE.md) ## Related News & Research - [FinHarbor Launches AI Co-Investigator for AML](https://longbridge.com/en/news/293173933.md) - [AI Bubble Fears, Earnings and Other Can't Miss Items this Week](https://longbridge.com/en/news/293130179.md) - [AccuKnox Wins Best AI Startup Award for Enterprise Agentic AI Security at BSides Bangalore](https://longbridge.com/en/news/293427106.md) - [12:52 ETGSE WORLDWIDE PARTNERS WITH EXTRAORDINARY AI TO ACCELERATE ENTERPRISE-WIDE AI STRATEGY AND INNOVATION](https://longbridge.com/en/news/293501552.md) - [08:00 ETSpotnana Unveils Multi-Agent AI Architecture and AI Capabilities for Travel Agents](https://longbridge.com/en/news/293210562.md)