GIGADEVICE's stock surged 5.00% during intraday trading on Friday, reflecting a sharp positive movement in the market.
The primary catalyst for the rise was U.S. memory giant SanDisk's report of better-than-expected fiscal second-quarter results and guidance after Thursday's market close. This performance underscored robust demand for memory chips, particularly driven by the artificial intelligence sector, which sent SanDisk's shares soaring over 21% in after-hours trading to a record high.
The positive sentiment extends across the memory chip industry, which is experiencing a wave of price increases and strong earnings from major manufacturers. Analysts note that within this favorable cycle, GIGADEVICE's continuous advancements in memory chip technology and product development are well-positioned to capture growth. The company's leading NOR Flash business, potential in customized DRAM, and expansion in MCU, sensor, and analog segments are expected to support sustained performance growth amid broader intelligence trends in electronics.
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