Sandisk (SNDK) and Micron (MU) Shares Jump After SK Hynix's Record Quarter

What happened

Shares of the memory-chip makers Sandisk (SNDK) and Micron (MU) jumped 7.7% and 5.9% on Wednesday after their South Korean rival SK hynix reported the best quarter in its history and said the shortage of memory chips will last for years.

SK hynix’s revenue rose 32% from the previous quarter to 104.6 trillion won, its first quarter above 100 trillion, the company said. Operating profit was 83.3 trillion won, up 632% from a year earlier, an operating margin of 80%. It expects demand for memory to keep exceeding supply through 2030 and said more than half of its 2027 and 2028 capacity is already committed under long-term contracts, it said in its results release.

FXStreet and 24/7 Wall St. both tied the gains in Micron and Sandisk to the SK hynix results. Prices are still climbing: the average selling price of SK hynix’s DRAM rose by a high-20s percentage from the second quarter, FXStreet reported.

Sandisk closed at $1,404.77, up 7.7% from the previous close, and Micron at $983.23, up 5.9%.

Why it matters

Memory chips hold the data that AI processors work on, and SK hynix, Samsung, and Micron are the three leading makers. Micron and Sandisk investors took SK hynix’s rising prices as a sign that memory prices are not leveling off, FXStreet wrote.

Customers are asking for “more than double that of what we can supply today,” Kim Ki-tae, SK hynix’s head of HBM sales, said on the earnings call. HBM is the stacked, high-speed memory packed next to AI chips. Korea’s KOSPI index jumped 6.6% on the day.

Sandisk, which makes NAND flash for storage, reports its own results after the close on Thursday.

What the market is telling us

Sandisk’s shares moved 5% or more on 114 of the last 252 sessions. The last move at least this big in the same direction was on 18 September 2026, when the stock rose 11.0%. The stock is up 491.8% this year, and at $1,404.77 it sits 39.8% below its 52-week closing high of $2,335.00 from 25 June 2026.

Micron’s shares moved 5% or more on 72 of the last 252 sessions. The last move at least this big in the same direction was on 4 September 2026, when the stock rose 6.1%. The stock is up 244.5% this year, and at $983.23 it sits 19.0% below its 52-week closing high of $1,213.56 from 25 June 2026. $1,000 invested in Micron five years ago would be worth $14,131 today.

Both stocks swing hard, and both are still well below their June peaks. A supplier saying the shortage runs to 2030 is the kind of news that supports prices, and Sandisk’s own numbers on Thursday are the next test.