WDC, STX, SNDK, INTC, AMD: Chip Stocks Rally After Micron's Stellar Q3 Earnings

Chip stocks rallied after Micron reported record results for its fiscal third quarter, lifting the whole memory complex tied to an AI-driven demand outlook. In the overnight session, SanDisk and Western Digital rose by more than 12% each, while Seagate gained 10%. Micron’s shares climbed nearly 16% and the Roundhill Memory ETF (DRAM) rose 10%. The surge followed Micron’s guidance that rapid growth will persist for the next few years. Micron reported revenue up 346% to $41.46 billion, beating analysts’ estimates of $35.3 billion, with earnings of $25.11 per share versus $20.28 expected. Gross margin jumped to 84.9% from 39% a year earlier. CEO Sanjay Mehrotra said supply shortages may extend beyond 2027, contradicting earlier expectations of improvement by early next year. Intel and AMD also rose as sentiment spread.