Memory Chips Surge in Overnight Session; Micron Up Over 3%, SanDisk Up Nearly 2%
Complete. Here is the key summaryThe memory chip sector rallied collectively during the overnight session, led by Micron Technology among mainstream names, with SanDisk and Western Digital following suit as sentiment improved.
The memory chip sector showed a broad-based rally during the overnight session, with mainstream stocks closing higher across the board. As of press time, Micron Technology (MU.US) stood out with the strongest performance, trading at $986.80 in the overnight session, up 2.85% from the previous close, after hitting an intraday high of $1,002.50, indicating active bullish participation in after-hours trading.
Other mainstream names also moved higher. SanDisk (SNDK.US) rose 1.88% to $1,614.72 in the overnight session; Western Digital (WDC.US) edged up 0.21% to $559.50; Seagate Technology (STX.US) gained 0.35% to $916.56; and Everspin Technologies (MRAM.US) posted a 1.21% gain to $16.48. On the derivative front, leveraged and inverse ETFs such as Micron Bull ETF (MUU.US) and Micron Bear ETF (MUD.US) moved in line with the underlying stocks, with MUU.US at $36.19 and SNDQ.US at $27.70 in the overnight session.
Overall, sentiment in the memory chip sector improved during overnight trading, driven by expectations that the industry inventory cycle has bottomed out and continued demand from AI servers. Investors should watch for updates on storage price guidance from major vendors in the upcoming earnings season to validate the sustainability of the industry recovery.
