- SanDisk shares rose 3.03% to $1,806.76 in early US trading on Friday
- Micron Technology stock gained 2.43% to $1,106.74 during morning trading
- SK Hynix ADR increased 1.96% to $190.03 in early US market hours
SanDisk, SK Hynix, Micron Technology and other chip stocks rose as much as 3% in early US trading on Friday, tracking a broader recovery in the market.
SanDisk Corp was among the top gainers, rising 3.03% to $1,806.76, according to real-time market data at around 9:39 a.m. ET.
Micron Technology Inc gained 2.43% to $1,106.74 at around 9:40 a.m. ET, while SK Hynix Inc's ADR climbed 1.96% to $190.03 at around 9:46 a.m. ET.
Also Read | Layoffs Are Rising In Tech, But These Skills Are Helping People Unlock Better Pay
ALSO READ: US Stock Market Today: Dow Jones, Nasdaq, S&P 500 In Green As Cooler Oil Soothes Wall Street
Western Digital Corp advanced 1.25% to $455.95, while Advanced Micro Devices (AMD) was up 0.61% at $633.11, according to real-time data.
The gains come after semiconductor stocks faced pressure during the recent Nasdaq correction. The latest rebound has coincided with a recovery across major US indices, providing support to the chip sector.
Beyond the broader market recovery, artificial intelligence-related demand remains a key structural driver for memory and storage stocks.
According to Investor's Business Daily, tight conditions in DRAM and high-capacity NAND flash, supported by AI inference and agentic AI workloads, are helping underpin pricing across the memory industry.
The publication said memory stocks have recently rotated back into favour, lifting the ranking of its Computer-Hardware/Peripherals industry group to No. 5 from No. 24 four weeks earlier.
Micron has been among the stronger performers in the group. According to IBD MarketSurge, the stock recently moved above a 1,042.40 cup-with-handle entry point, while its relative strength line reached its highest level since early July.
ALSO READ: 7 Weeks In Row: D-Street Logs Longest Losing Streak In 18 Years Despite Friday Bounce
IBD said Wall Street expects Micron's full-year revenue to rise 248% to $129.93 billion, with earnings projected to jump 788% to $73.65 per share. Micron's fiscal fourth-quarter results, due on Sept. 30, are also being closely watched by investors.
SanDisk, meanwhile, recently moved above an 1,807.38 early buy point from a deep cup base. Rosenblatt Securities initiated coverage of the stock earlier this week with a buy rating and a $2,400 price target, arguing that NAND flash is increasingly important to AI computing infrastructure.
SK Hynix shares have also remained in focus after breaking above a 178.43 cup-with-handle entry point on Sept. 8. The stock is now trading around the upper end of the reported 5% buy range.
Essential Business Intelligence, Sharp Market Insights, Practical Personal Finance Advice, Daily Fuel, Gold and Silver Prices and Latest Stories — On NDTV Profit.
