Micron Climbs 1.1% to $948.80, SanDisk Rallies 6.8% on Wednesday as AI Memory Demand Rebounds

According to analysts, Micron Technology (MU) and SanDisk (SNDK) staged a rebound on Wednesday, July 8, with Micron rising 1.1% to $948.80 per share and SanDisk surging 6.8% to $1,727.18 per share. Both stocks had declined sharply since hitting peaks on June 25, with Micron down roughly 23% and SanDisk falling 30% from those highs. Shay Boloor, CEO of Futurum Equities, attributed the recovery to "oversold bounce" buying, driven by earlier profit-taking concerns about the memory cycle reaching its peak.

J.Gold Associates Chief Analyst Jack Gold maintained a constructive outlook, noting that Micron, SanDisk, SK Hynix, and Samsung remain primary beneficiaries of AI infrastructure demand for high-end memory. "Unless the entire AI investment cycle collapses, I see no long-term reason Micron cannot continue to benefit," Gold said, suggesting investors have incentive to buy on weakness. However, analysts acknowledged that any slowdown in AI data center deployment could significantly impact memory pricing sustainability.