The Main Points
- Micron Technology, Western Digital, and Seagate Technology each gained roughly 12% as memory chip stocks rallied.
- The Roundhill Memory ETF, which tracks the sector, jumped about 11% on the news.
- The rally came as investors looked ahead to major tech earnings for clues about the health of the broader AI spending trade.
- Sandisk remains the best-performing stock in the S&P 500 this year, up more than 360%, even after recent pullbacks.
- Some investors have grown more cautious on chipmakers in recent weeks following a strong first half of the year.