SanDisk, Western Digital, and Micron shares rally after reporting robust Q3 results and AI-driven demand for memory products.
SanDisk (SNDK) jumped 9% in midday trading after posting Q3 revenue of $5.95 billion, a 251% year-over-year increase, with gross margins hitting 78%. The surge follows a 3,852% gain over the past year, driven by its NAND pure-play status post-split from Western Digital in 2025.
Western Digital (WDC) rose 5% as its Q3 non-GAAP gross margin reached 51%, supported by persistent AI workload demand for HDDs. Micron (MU) climbed 3% after its Cloud Memory Business Unit reported $5.284 billion in Q1 FY2026 revenue at a 66% gross margin, fueled by strong HBM demand.
The gains reverse a brutal five-session decline where SNDK, WDC, and MU fell 4% to 9%. The rebound highlights renewed investor confidence in memory stocks amid AI-driven growth trends.