Micron and SanDisk Stocks Gain 2%+ on Monday, Ending Three-Day Decline

Micron, SanDisk, and Western Digital stocks gained between 2% and 2.7% on Monday, ending a three-day decline as memory chip equities rebounded despite ongoing volatility in Korean markets and the broader semiconductor sector. The rally followed weeks of profit-taking that pushed the Roundhill Memory ETF (DRAM) down 25% this month and drove Micron's market capitalization below $1 trillion on July 16, where it has remained since. The Monday gains occurred as investors awaited quarterly earnings reports from major tech firms including Intel and Alphabet, which are expected to influence sentiment across AI-related trades.

Micron stock rose 2% on Monday, while SanDisk and Western Digital climbed 2.7% and 2.1%, respectively. The Roundhill Memory ETF (DRAM) added 0.6% during the session and extended gains by 2.7% in overnight trading. The moves came at the start of a week featuring earnings releases from major technology companies.

UBS Projects Micron Free Cash Flow Through 2028

UBS stated on Monday that Micron could repurchase more than 40% of its shares by the end of 2028 once its buyback restriction expires in December 2026. The firm projected that Micron will generate over $400 billion in free cash flow through 2028, which could fund share repurchases at current prices. UBS highlighted Micron, SanDisk, Western Digital, Seagate, Broadcom, and AMD as attractive investments at current levels, according to a CNBC report.

Retail Traders Cite Demand Outlook Ahead of SK Hynix Earnings

On Stocktwits, retail sentiment was bullish for MU and SNDK and bearish for WDC and DRAM. One trader commented that market makers have created fear around future earnings evaporating, but noted that CEOs of memory companies say demand will outpace supply for the foreseeable future. Traders indicated they would look to SK Hynix's upcoming results for further direction. SK Hynix is scheduled to report its second-quarter earnings on July 29 at 9 am Korean time, marking the first earnings release since the company listed its shares on Nasdaq.

FAQ

What happened to Micron and SanDisk stocks on Monday?
Micron stock gained 2% on Monday, while SanDisk rose 2.7% and Western Digital climbed 2.1%, ending a three-day losing streak for memory chip equities.

What did UBS say about Micron's share buyback potential?
UBS stated on Monday that Micron could repurchase more than 40% of its shares by the end of 2028 once its buyback restriction expires in December 2026, funded by projected free cash flow of over $400 billion through 2028.

When is SK Hynix scheduled to report earnings?
SK Hynix is scheduled to report its second-quarter earnings on July 29 at 9 am Korean time, the first earnings release since the company listed its shares on Nasdaq.