Western Digital Joins Sector Rally as Nasdaq Jumps 0.9% on Memory Stocks Rebound
Western Digital shares rose approximately 1% at Thursday’s open as the chip sector led a 0.9% Nasdaq gain. Broad tech demand picked up after comments on a potential Middle East ceasefire, driving rallies in memory names including Micron, Marvell and AMD.
1. Market Rally Spurs Sector Gains
US equity markets opened higher as Nasdaq climbed 0.9% and both the Dow Jones and S&P 500 rose 0.5% at Thursday’s open. Investor appetite for risk returned on optimism over a potential Middle East ceasefire, reversing March’s worst monthly performance since 2022.
2. Memory Stocks Lead Gains
Chip names were at the forefront, with Western Digital, Micron, Marvell and AMD each rallying around 1% at the open. The surge reflects renewed confidence in storage and data-center demand after the sector underperformed earlier in March.