SanDisk, Western Digital, and Micron shares rose sharply after a five-session decline that left each stock down between 4% and 9%. The rebound followed weakness into Wednesday’s close and was supported by dip-buyers returning as macro conditions appeared quieter. The fundamental drivers remain tied to AI storage demand. Micron’s HBM for AI accelerators continues to lead, with Q1 FY2026 revenue of $5.284 billion and a 66% gross margin. SanDisk’s Q3 FY2026 results showed NAND strength, with revenue of $5.95 billion up 251% year over year and 78% gross margin. Western Digital reported Q3 FY2026 non-GAAP gross margin of 51% and linked AI workloads to persistent, cost-efficient HDD storage.
"Memory stocks are bouncing hard at midday on Thursday after a punishing week for the sector. SanDisk ( NASDAQ:SNDK | SNDK Price Prediction) shares are up 9%, Western Digital ( NASDAQ:WDC) stock is higher by 5%, and Micron Technology ( NASDAQ:MU) shares are advancing 3%. The rebound follows a brutal five sessions in which each of the three was down between 4% and 9%. SNDK stock had slipped 4% over the past week, WDC shares had dropped 7%, and MU stock had given back 9% heading in."
"The fundamental backdrop remains the same story that has powered the group all year. High bandwidth memory (HBM) for AI accelerators has been the dominant catalyst for Micron, with the company's Cloud Memory Business Unit posting $5.284 billion in Q1 FY2026 revenue at a 66% gross margin. SanDisk's Q3 FY2026 print on April 30 reset expectations for the NAND side, with revenue of $5.95 billion up 251% year over year and gross margin of 78%."
"CEO David Goeckeler called it "a fundamental inflection point for Sandisk" driven by datacenter mix shift. Western Digital, the post-spinoff HDD pure-play, also crossed a milestone, with Q3 FY2026 non-GAAP gross margin reaching 51%. CEO Irving Tan asserted that "Virtually every AI workload, from training, inference, agentic AI to physical AI, creates data that is stored persistently and cost-efficiently on HDDs.""
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