Why WDC, MU, STX, SNDK Stocks Rallied Hard Today And Lifted DRAM To ‘Solid Breakout’

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1. 6d ago

   WDC, MU, STX, SNDK Stocks Surge on Iran Deal; DRAM ETF Sees ‘Solid Breakout’

   Stocks in Western Digital, Micron, Seagate, and SanDisk rallied sharply today, lifting the Roundhill Memory ETF (DRAM) into a ‘solid breakout’ as a U.S.-Iran peace agreement eased geopolitical risks and boosted risk appetite in tech and semiconductor sectors. AI-driven demand and supply constraints remain key drivers. Retail investors are increasingly viewing recent pullbacks as buying opportunities. Confidence in memory stocks has surged, with major banks like Morgan Stanley raising price targets.

   What's confirmed:

   • Western Digital stock rose 16% today, extending its three-session gain to 33%, while Micron climbed 8% and SanDisk jumped 6% on the Iran deal news.
   • Stocktwits sentiment for Western Digital shifted to ‘extremely bullish,’ with over three-quarters of nearly 1,000 voters expecting further upside.
   • Morgan Stanley raised its Micron price target from $350 to $450, calling it the top pick in the semiconductor sector while maintaining an ‘Overweight’ rating.
   • Retail investors are treating the recent memory stock pullback from record highs as a buying opportunity, according to Stocktwits data.
   • The Roundhill Memory ETF (DRAM) is now in a ‘solid breakout’ as broader DRAM and memory stocks surge on AI demand and eased geopolitical tensions.
   • SoftBank surged over 10% as the Iran-U.S. deal lifted Asian tech stocks, signaling broader risk-on sentiment in global markets.

   Still unconfirmed:

   • SK Hynix is reportedly planning to triple its wafer capacity by 2034, though no official confirmation has been issued.
   • The SanDisk rally may face resistance soon, but no specific trigger or timeline has been provided by analysts.
   confidence 92%