AI Memory Rally Lifts MU, SNDK as WDC Gains on Storage Boom
Memory and storage stocks surged as the AI memory supercycle thesis goes mainstream: Micron jumped about 11% on Cloud Memory Unit revenue of $5.28B at a 66% gross margin and forecasting $18.7B in Q2 2026 revenue; SanDisk rose ~11% after Q3 FY2026 revenue of $5.95B with datacenter revenue $1.47B; Western Digital gained ~3% as non-GAAP gross margin topped 50% and the company lifted its dividend by 20%. The rally highlights tight supply in high-bandwidth memory, enterprise NAND, and HDDs, with year-to-date gains for MU, SNDK, and WDC running into the double digits (MU ~151%, SNDK ~528%, WDC ~176%).