Quick Read – Samsung’s 19x YoY profit surge ignited a memory stock rebound, sending WDC and STX up 7% and reversing this week’s brutal selloff. – The Roundhill Memory ETF (DRAM) climbed 4%, with the SK Hynix U.S.
IPO pricing today a key test for the AI-memory trade. – The prediction markets price MU at 84% odds of gains July 9, yet Micron stock has typically declined after earnings beats across its last eight reports. – Act now: the analyst who called NVIDIA in 2010 just named his top 10 AI stocks — and Micron Technology didn’t make the cut
Grab the names FREE today. Memory and storage stocks are rebounding sharply Thursday morning, reversing a bruising start to the week. Western Digital (NASDAQ:WDC) shares are up 7% to $589 and Seagate Technology (NASDAQ:STX) stock is up 7% to $921 in early trading, while Micron Technology (NASDAQ:MU) shares are up 6% to $1,010 and SanDisk (NASDAQ:SNDK) stock is up 6% to $1,830.
All four names remain up sharply year to date (YTD) despite this week’s pullback. Micron shares are up 233% YTD, Western Digital shares are up 220%, Seagate stock is up 213%, and SanDisk shares are up 628%, making the group among the year’s biggest AI beneficiaries. Samsung Blowout Fuels Memory Reversal The rebound tracks overnight gains in Asian memory names after Samsung’s blowout preliminary Q2 results.