Western Digital Stock Jumps 12% as Micron Posts Record $41.46B Q3
WDC•Western Digital shares jumped 12% in US premarket trading as Micron’s record $41.46B Q3 revenue and $100B in multi-year contracts boosted confidence in memory and storage demand. The VanEck Semiconductor ETF rose 5%, Sandisk rallied 12% and Seagate gained 8.3%, highlighting tight supply for AI-driven memory.
1. Sector Rally Drives Premarket Gains
Western Digital opened with a 12% premarket gain following a 5% rise in the VanEck Semiconductor ETF and double-digit advances at Sandisk and Seagate, highlighting heightened investor interest in memory and storage stocks.
2. Micron's Strong Earnings Spark Momentum
Micron reported record $41.46 billion in Q3 revenue, an 84.9% gross margin and secured $100 billion in multi-year customer contracts, underpinning positive sentiment across memory markets and boosting Western Digital’s share performance.
3. AI Demand and Supply Tightness
Demand for high-bandwidth memory remains far above available supply due to AI and data center applications, positioning Western Digital to benefit from potential price support, margin expansion and improved profitability.
