Stock Track | SanDisk Soars 5.20% Intraday as Chip Storage Stocks Rally on Memory Technology Developments

Stock Track02-03 22:37

SanDisk Corp.'s stock soared 5.20% during intraday trading on Tuesday, leading a broader rally among chip storage stocks.

The surge in chip storage stocks, including SanDisk, comes amid positive developments in the semiconductor memory sector. Intel has formed a collaboration with SoftBank Corp's unit Saimemory to develop a new class of memory chip technology called "Z-Angle operation memory technology," aimed at creating high capacity, high bandwidth, and low power consumption chips.

Additionally, Teradyne's forecast of first-quarter revenue and profit above estimates, driven by multibillion-dollar investments by technology companies on data center expansion for AI capabilities, has boosted sentiment across the semiconductor equipment sector. The increasing complexity of AI compute and memory chips is prompting chipmakers to raise capital spending on testing equipment.

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