SanDisk Rises 8%, Western Digital Jumps 9%, Micron Adds 7% as Memory Rebound Accelerates

Memory stocks are extending their rebound Tuesday morning, with SanDisk (NASDAQ:SNDK) up 8% to $1,504, Western Digital (NASDAQ:WDC) up 9% to $531, and Micron Technology (NASDAQ:MU) up 7% to $923. Today's gains physique connected a July 20 league successful which the aforesaid names roseate 4% to 6%, turning a summertime pullback into a two-day rebound for the group.

The circumstantial catalyst connected the portion contiguous belongs to Micron. Bank of America expert Vivek Arya raised his Micron terms people to $1,550 from $1,500 and reiterated Buy. SanDisk and Western Digital are riding the broader representation portion and a constructive UBS note.

Bank of America Fuels the Micron Leg

Arya characterized Micron's latest 4th arsenic "another memorable beat," pointing to the company's eighth consecutive quarterly EPS beat, which topped statement by 24%. He framed the caller spot pullback arsenic a "summer reset."

The Bank of America enactment pegs the high-bandwidth representation (HBM) accidental astatine $246 cardinal by 2030 and planetary semiconductor income astatine $2.7 trillion by 2030. Micron has locked successful 16 multi-year Strategic Customer Agreements, including a supply-and-investment concern with backstage AI laboratory Anthropic.

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Micron's Q4 FY2026 guidance calls for gross of $50 cardinal positive oregon minus $1 billion, non-GAAP EPS of $31 positive oregon minus $1, and gross borderline of 86%. The stock's guardant P/E ratio of 5x looks unusually debased for a sanction compounding astatine this pace, and expert targets bespeak that view: TD Cowen sits astatine $1,500, with the Street's statement astatine $1,491.95.

UBS piled connected Monday, penning that Micron could repurchase much than 40% of its shares by the extremity of 2028 and make implicit $400 cardinal successful escaped currency travel done 2028. The slope flagged Micron, SanDisk, Western Digital, Seagate Technology (NASDAQ:STX), Broadcom, and Advanced Micro Devices (NASDAQ:AMD) arsenic charismatic astatine existent levels.