Sandisk Shares Soar 10% After Micron Guides $50B Q4 Revenue
SNDK•Sandisk shares rallied 10% on Thursday after Micron reported fiscal Q3 EPS of $25.11 and guided Q4 revenue near $50 billion, outpacing a $43.2 billion consensus. The VanEck Semiconductor ETF jumped 5% as investors wagered on sustained AI-driven high-bandwidth memory demand and elevated capital spending.
1. Sandisk Stock Rally
Sandisk shares surged 10% on Thursday, leading gains among memory and storage stocks during a broad semiconductor rally driven by strong quarterly results from key peers.
2. Micron’s Quarterly Results and Guidance
Micron reported fiscal Q3 EPS of $25.11 versus forecasts of $20.78 and guided Q4 revenue near $50 billion, well above the $43.2 billion analyst consensus, reinforcing confidence in the memory sector.
3. AI-Driven Memory Demand
High-bandwidth memory remains a critical bottleneck for AI data-center workloads, and robust demand has kept supply constraints in focus, underpinning elevated valuations across the complex.
4. Sector Momentum and Valuation
The VanEck Semiconductor ETF rose roughly 5%, reflecting investor willingness to look past near-term volatility as AI infrastructure capital spending is expected to stay elevated.
