US Stocks Move: Strong Demand for Memory Chips Drives SanDisk Shares Up 27%, Micron Technology Up 10%, Both Hit Record Highs

Glonhui, January 7th｜On Tuesday, memory card manufacturer SanDisk (SNDK.US) saw its stock price soar by as much as 28.43% to $352, reaching a record high. It finally closed up 27.56% at $349.63, with a market capitalization of $51.2 billion. Investors flocked to storage and memory stocks related to artificial intelligence (AI), driving up SanDisk's share price. According to a research report by TrendForce, as server demand absorbs product supply, NAND flash memory chip contract prices are expected to increase by 33%-38% in the March quarter, while traditional DRAM contract prices are expected to climb by 55%-60%. The memory chip market is expected to have strong growth momentum this year, but the report warns that SanDisk’s high valuation may limit its upside potential. AI chip manufacturer Micron Technology closed up 10% at $343.43, also reaching a record high, with a market capitalization of $386.5 billion.