🔥 SNDK FELL. MICRON ROSE. IS THE MEMORY TRADE CHANGING?
Yesterday gave us a fascinating test of the memory rally.
SanDisk dropped 1.41% to $1,766.64 after surging 10.99% the previous session.
But here’s the part that caught my attention:
Micron rose 2.77% to $1,043.96.
SK Hynix gained 0.73% to $188.86.
So what changed?
The obvious explanation is the S&P 100 inclusion effect. SanDisk’s huge move came as index funds bought into the rebalance. Once that buying was finished, the stock gave some of the move back.
But Micron and SK Hynix weren’t dependent on that index flow.
They moved on the underlying memory story.
That creates an interesting split:
📌 SNDK: How much of the rally was technical buying?
📌 MU: Can stronger memory pricing translate into earnings growth?
📌 SK Hynix: Does tight capacity keep the cycle going?
This is where I think the next phase gets interesting.
If memory prices and demand remain strong, the sector doesn’t need an index rebalance to keep moving.
But if the excitement was mostly positioning and momentum, the stocks could start behaving very differently once the easy catalysts disappear.
One day. Two very different signals.
The question now isn’t simply “Are memory stocks bullish?”
It’s:
🔥 Which part of the rally is actually backed by fundamentals?
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