Today, American memory chip stocks rallied across the board.
On Tuesday, Micron Technology, a leading U.S. dynamic random access memory (DRAM) manufacturer, surged 4.50% on the New York Stock Exchange. SanDisk, the frontrunner in NAND memory, climbed 2.35%, while its parent company, Western Digital, soared 9.64%.
Western Digital’s stock price notably skyrocketed to $313.81, marking a 9.64% jump.
Western Digital, a major player in the American memory semiconductor industry, spun off SanDisk, which specializes in NAND memory, in February last year.
This positions Western Digital as SanDisk’s parent company.
The dramatic rise in the company’s stock price today likely stems from expectations of increased memory demand driven by the artificial intelligence (AI) boom.
SanDisk also closed up 2.35% at $720.17.
Micron, the largest DRAM manufacturer in the U.S., saw its stock surge 4.50% to 461.69 USD.
American memory semiconductor stocks have been on a consistent upward trajectory. SanDisk, in particular, has seen remarkable gains: 22% over the past month, 204% year-to-date, and an astonishing 1194% over the last year.