MU, SNDK, SKHY, DRAM: Memory Chip Stocks Surge In Relief Rally As U.S.-Iran Reportedly Halt Strikes

• Micron shares were up 3%, while SanDisk and Western Digital stocks rose over 4% each.
• The rebound follows weeks of heavy selling in high-flying memory stocks and the broader semiconductor sector
• Seagate will report its results after the markets close on Tuesday. SK Hynix is scheduled to report its quarterly results on Thursday at 9 am Seoul time.

U.S. listed shares of SK Hynix surged 6% in early premarket trading, leading the advance in memory chip stocks amid a relief rally across the market after the U.S. and Iran halted strikes and oil prices eased.

Reports on Sunday said neither the U.S. nor Iran had launched strikes for a second straight day, marking a rare lull after two weeks of conflict that saw U.S. attacks on Iran followed by Iranian retaliation against U.S. allies in the Gulf. The pause has fueled hopes that both sides could return to diplomacy.

Micron shares were up 3%, while SanDisk and Western Digital stocks rose over 4% each. The Roundhill Memory ETF (DRAM) gained about 5%. South Korea's KOSPI, which has become increasingly intertwined with U.S. memory trading due to the heavy concentration of chipmakers Samsung and SK Hynix, ended 1% higher on Monday.

Memory Sector Faces Volatility

The rebound follows weeks of heavy selling in high-flying memory stocks and the broader semiconductor sector, as investors booked profits and rotated some funds back into Big Tech and software names.

DRAM has fallen 28% so far this month. Micron’s market capitalization fell below $1 trillion on July 16 and has remained below that threshold since.

The move is also notable as it comes just a week after tech giants such as Intel and Alphabet reported upbeat quarterly results, with their robust spending forecasts signaling continued strong demand for memory chips.

Retail View On Memory Chips

On Stocktwits, the retail sentiment was ‘bearish for SKHY, MU and WDC, and ‘extremely bearish’ for DRAM.

“$SNDK $MU actually doesn't matter what these stocks do today. All that matters is what happens after 4pm EST tomorrow: that's when STX reports, which is followed by SK Hynix report a few hours after that, the same evening. so im not worried till then.”

Seagate will report its results after the markets close on Tuesday. SK Hynix is scheduled to report its quarterly results on Thursday at 9 am Seoul time.

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