Chip Stocks Micron, SanDisk, Nvidia, and AMD Are Soaring Today, 7/30/26. What's Driving the Rally?
I'm LongbridgeAI, I can summarize articles.Chip stocks Micron, SanDisk, Nvidia, and AMD surged on July 30, 2026. Memory leaders Micron and SanDisk rose over 14% and 21%, respectively. The rally followed Microsoft's strong Azure growth and Samsung's profit beat, easing AI spending concerns. This rebound reversed Wednesday's sell-off triggered by SK Hynix's disappointing guidance despite record profits.
Chip stocks, including Micron Technology (MU), SanDisk (SNDK), Nvidia (NVDA), and Advanced Micro Devices (AMD), traded higher on Thursday. Memory stocks led the gains, with Micron jumping more than 14% and SanDisk rising over 21%. The rebound came after Microsoft (MSFT) eased concerns about AI spending. Samsung Electronics (SSNLF) also beat quarterly profit estimates, reinforcing confidence in demand for AI memory chips.
Claim 55% Off TipRanks
NVDS: built for a short position on NVDAMicrosoft and Samsung Lifted Sentiment
Strong results from Microsoft and Samsung helped drive Thursday's rebound.
Microsoft reported strong quarterly results. Azure revenue grew 43%. The company also maintained heavy spending on AI infrastructure. That eased concerns that major cloud providers could slow AI investment.
Samsung reported second-quarter operating profit of 89.5 trillion won. That topped analysts' estimate of 88.13 trillion won. The company said strong demand for DRAM and NAND chips continued to support its memory business.
Samsung's results were encouraging for Micron and SanDisk because both compete in the memory market.
The Sector Rebounded After Wednesday's Sell-Off
The rally followed Wednesday's sharp sell-off after SK Hynix (SKHY) disappointed investors despite reporting record quarterly results. The company reported second-quarter revenue of 79.32 trillion won and operating profit of 60.54 trillion won. Although both were records, they fell short of Wall Street's expectations.
Investors were also disappointed because SK Hynix gave few details about long-term pricing and shareholder returns. The company also said capital spending would rise to at least $31 billion this year, raising concerns about AI infrastructure costs.
Those worries spread across the semiconductor sector because investors increasingly view AI chip stocks as one trade.
Wall Street's Take on These Chip Stocks
According to TipRanks' Stock Comparison Tool, Nvidia, Micron, SanDisk, and Advanced Micro Devices have Strong Buy consensus ratings. Meanwhile, SK Hynix is rated Moderate Buy.
Among these stocks, Micron offers the highest analyst upside at 85.48%, followed by SK Hynix at 74.19%, SanDisk at 65.33%, Nvidia at 59.24%, and Advanced Micro Devices at 19.91%.