This week, which stocks lagged or dragged? Weekly Winners column keeps up with market trends, helping Tigers sort out the week's hottest sectors, stock winners and important news.
Below are the top 10 S&P 500 stock gainers for the week ended Mar. 13:
SanDisk Soars 25% This Week on Robust NAND Flash Demand and AI-Driven Growth
SanDisk shares soared over 25% this week, reflecting strong investor sentiment towards the stock. The surge is primarily driven by robust demand in the NAND flash memory market, fueled by the increasing adoption of artificial intelligence applications and the expansion of data centers, which has led to a structural supply shortage and rising prices.
SanDisk's strong financial performance, including exceeding revenue guidance and showing significant growth, along with positive analyst ratings and price target revisions, further bolstered confidence. Additionally, new product introductions such as the Optimus SSD line and next-generation portable SSDs for AI workflows, combined with increased institutional investment, highlight the company's strategic positioning in key growth areas.
Micron Rockets 15% This Week. Wedbush Analyst Expects Micron to Report Upbeat Guidance
Memory prices have been on a tear. Just how much will that flow through to Micron's profits?
Wedbush analyst Matt Bryson expects Micron to report upbeat guidance in its fiscal second-quarter earnings release next Wednesday.
Memory prices have been caught in a frenzy in recent months, and analysts don't see demand letting up. For Micron Technology, the real question concerns the extent to which this pricing boom manifests in its upcoming financial results.
The surge in memory prices is taking place "at a rate that I haven't seen in the 25 years I've been covering the industry," Wedbush analyst Matt Bryson told MarketWatch. He expects tight supply to continue to drive increased demand until 2028.
Ciena Jumps over 14% After Initiated with a Buy at TD Cowen
TD Cowen analyst Sean O’Loughlin initiated coverage of Ciena with a Buy rating and $425 price target and added the company to its Top Picks. The firm sees Ciena as a “key beneficiary” of AI infrastructure demand and sees its strong positioning in DCI as “well complemented by its recent Nubis acquisition for intra-datacenter connectivity.”
Dow and 3 Other Chemicals Stocks Are Big Gainers From the Iran War
Chemical stocks CF Industries, LyondellBasell Industries, Dow, and Mosaic were the top four performers in the S&P 500 on Thursday, lifted by the Iran war.
As much as a third of the world‘s fertilizer supply passes through the now-closed Strait of Hormuz, a primary conduit in the Middle East for all kinds of commodities—foremost among them oil. Many countries in the region produce those chemicals along with components for polyethylene plastics.
The war has already driven up the prices of fertilizer components, such as nitrogen, ammonia, and urea. And an estimated 10% of global polyethylene supply has been knocked out. Consequently, chemicals stocks have gained.
CF Industries, a major distributor of nitrogen fertilizer, jumped 12% this week and is now up 36% since the U.S. and Israel attacked Iran on Feb. 28. Mosaic, which is focused on phosphate fertilizers, climbed 11.6%. The stock is up five of the last six days and 14% this month.
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