Quick Read – Micron (MU) rockets 8% and Western Digital (WDC) surges 7%, recovering just a fraction of Friday’s brutal 13% AI memory selloff. – Susquehanna’s $3,250 SanDisk price target signals long-term conviction, yet prediction markets price only 50% odds Micron extends gains…
to Tuesday. – Memory and storage names are leading the tape in early Monday trading, snapping back hard from Friday’s brutal selloff. Micron Technology (NASDAQ:MU) stock is up 8% to $935, while Western Digital (NASDAQ:WDC) and SanDisk (NASDAQ:SNDK) are also rallying sharply
The bounce arrives without a fresh fundamental catalyst, and it looks technical in nature. The trio is recovering only a portion of the ground lost on Friday, June 5, when the so-called “Parabolic 7” trade violently unwound across the AI infrastructure complex. Friday’s closing prints were harsh across the memory names, with MU stock leading the declines, having dropped 13% to $864.01.
A Snap-Back, Not a New Catalyst There’s no fresh news item driving Micron, Western Digital, or SanDisk shares higher this morning. The setup looks like classic mean reversion after a sentiment-driven flush in the parabolic memory complex. Short-term traders appear to be covering shorts and re-entering long exposure at lower prices.