Memory Chip Sector Surges Intraday: Micron Up Nearly 18%, SanDisk Up Over 24%
I'm LongbridgeAI, I can summarize articles.During intraday trading on July 30, the memory chip sector rallied broadly. Micron Technology rose nearly 18% to $873.42, while SanDisk jumped over 24% to $1,268.73. Western Digital and Seagate Technology both gained more than 15%, with active trading across the sector.
During intraday trading on July 30, the U.S. memory chip sector surged broadly, with mainstream stocks advancing across the board. As of press time, Micron Technology (MU.US) rose nearly 18% to $873.42, while SanDisk (SNDK.US) showed the strongest performance, up over 24% at $1,268.73.
Other major storage manufacturers also posted significant gains. Western Digital (WDC.US) climbed over 15% to $531.73, while Seagate Technology (STX.US) advanced more than 11% to $848.86. Everspin Technologies (MRAM.US) rose over 11% to $14.47. Among derivative products, the Micron leveraged ETF (MUU.US) surged over 36% to $26.79, while the Micron inverse ETF (MUD.US) fell nearly 18% to $11.70, reflecting strong bullish sentiment in the market.
Overall sector trading volume expanded significantly. Micron Technology's intraday turnover exceeded $44.2 billion, while SanDisk's turnover surpassed $25.1 billion, indicating substantial capital inflows into the memory chip sector during the session. Analysts noted that improving industry supply-demand expectations and optimistic guidance from leading manufacturers' earnings reports were likely the main drivers behind today's broad sector strength.