GIGADEVICE (03986) surged more than 4%, with the stock up 4.04% to HK$345.2 at the time of writing, generating a turnover of HK$294 million. The catalyst for the move came after U.S.-listed memory giant SanDisk reported its fiscal 2026 second-quarter results after Thursday's market close, with both its performance and guidance exceeding market expectations. This highlights the robust demand for memory chips driven by the artificial intelligence sector, which propelled SanDisk's shares significantly higher in after-hours trading. At last check, the stock was up over 21% in the evening session, hitting a new record high. Notably, as the wave of memory chip price increases intensifies, several major memory chip manufacturers, including SK Hynix, Samsung, and Western Digital, have recently announced impressive earnings reports. In a recent research note, Huajin Securities pointed out that against the backdrop of a steady upward memory cycle, and considering GIGADEVICE's continuous advancement in memory chip process technology and product category iterations, its NOR Flash business is expected to maintain a leading position. Furthermore, as leading DRAM manufacturers shift their production capacity, the company could potentially replicate the development path of its NOR Flash business, with customized DRAM likely opening up new growth opportunities. Coupled with the ongoing expansion of its MCU product portfolio and the development of its sensor and analog businesses, the company's performance is poised for sustained growth amid the broader trend of intelligence in consumer electronics, automotive electronics, and industrial applications.
Comments