{"id":892721,"date":"2026-06-25T22:21:16","date_gmt":"2026-06-25T22:21:16","guid":{"rendered":"https:\/\/www.europesays.com\/us\/892721\/"},"modified":"2026-06-25T22:21:16","modified_gmt":"2026-06-25T22:21:16","slug":"sandisk-western-digital-and-others-soar-as-micron-results-justify-elevated-valuations","status":"publish","type":"post","link":"https:\/\/www.europesays.com\/us\/892721\/","title":{"rendered":"Sandisk, Western Digital, and others soar as Micron results ‘justify elevated valuations’"},"content":{"rendered":"\n

What happened:\u00a0<\/strong>Memory and storage stocks rallied on Thursday. Shares of Sandisk (SNDK<\/a>) and Western Digital (WDC<\/a>) gained 21% and 4%, respectively, while chipmaker Qualcomm (QCOM<\/a>) and machine manufacturer Applied Materials (AMAT<\/a>) also rose. <\/p>\n

What’s behind the move:<\/strong> The iShares Semiconductor ETF (SOXX<\/a>) ticked up by more than 3% after Micron Technology’s (MU<\/a>) blowout quarterly results reinforced the narrative that capital spending on artificial intelligence continues to accelerate. <\/p>\n

That helped lift sentiment, “suggesting investors remain willing to look through short-term volatility as long as the earnings outlook continues to justify elevated valuations,” Capital.com senior market analyst Daniela Hathorn said. <\/p>\n

Meanwhile, AI chip heavyweight Nvidia (NVDA<\/a>) slipped after rival Qualcomm forecast $15 billion in new data center revenue<\/a> as it heavily broadens beyond smartphones. <\/p>\n

What else you need to know: <\/strong>Memory has been a major bottleneck in the artificial intelligence trade, with Micron leading the semiconductor complex. <\/p>\n

Last month, Micron Technology, Samsung Electronics (005930.KS<\/a>), and SK Hynix (000660.KS<\/a>) all made headlines as they reached $1 trillion valuations for the first time. <\/p>\n

Stocks across the semiconductor complex have been driving the overall tech sector (XLK<\/a>) up 27% year-to-date and a whopping 43% since the March 30 lows. <\/p>\n

Ines Ferre is a senior business reporter for Yahoo Finance. Follow her on X at @ines_ferre<\/a>. <\/p>\n