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Memory Stocks Surge: Sandisk Up 16% After CoreWeave Earnings
Why are memory stocks up today?
Micron (MU) stock jumped 11.9% to $811.30 on Wednesday, with Sandisk (SNDK) up 16% and Seagate (STX) up 10%, after CoreWeave's strong results revived the AI trade.
Key numbers
| Sandisk (SNDK) one-day move | +16%after a 41% fall in a month (per [4]) |
|---|---|
| Micron (MU) close | $811.30+11.9% |
| Seagate (STX) one-day move | +9.9%down 30% in prior month (per [4]) |
| CoreWeave Q3 revenue | $3.66B+168% YoY |
| CoreWeave order backlog | $132.5Bup from $104B in June |
| Micron drop from Oct. 7 peak | ~40%before Wednesday's jump |
What happened
Micron (MU) stock jumped 11.9% to $811.30 on Wednesday, with Sandisk (SNDK) up 16% and Seagate (STX) up 10%, after CoreWeave's strong results revived the AI trade. CoreWeave, a company that rents out AI computing power, said its sales rose 168% to $3.66 billion and raised its 2026 forecast. It fills data centers with memory and storage chips, so more spending by CoreWeave means more orders for these makers. The three stocks had fallen roughly 25% to 41% over the past month before the jump (per).
Why it matters
Memory and storage stocks such as Sandisk, Micron and Seagate are a gauge of whether AI spending is still growing. CoreWeave reported $132.5 billion of future customer orders and said demand is far above what it can supply. That eased worries that the AI building boom is slowing. Analysts still warn that funding and power limits could cap further gains.
Who this affects
- MarketbullishMedium impact
- AI-linked investors gain as tech stocks rebound from oversold levels.
- CompanybullishHigh impact
- Sandisk, Micron and Seagate shareholders recover part of a sharp monthly drop.
- CompetitorsbullishMedium impact
- Western Digital and SK Hynix also rose in the rally.
- IndustrybullishMedium impact
- Memory suppliers see steady AI demand backed by multi-year orders.
Sandisk vs Micron, Seagate, Western Digital
How we got here
Micron shares peak, then slide about 40% over the following weeks.
CoreWeave reports Q3 sales of $3.66 billion and raises its 2026 forecast.
Sandisk, Micron and Seagate jump 10% to 16% as the AI trade revives.
Morgan Stanley ranks memory its second-most preferred chip area, after compute.
What to watch
- Whether Sandisk, Micron and Seagate hold gains after falling 25% to 41% in a month.2026-11-12
- Goldman Sachs warns AI capex financing and power limits may cap rallies before year-end.2026-12-31
- CoreWeave's planned $37–39 billion 2026 spending, a key source of memory orders.Q4 2026
Educational content only. Not investment advice.
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