HK Stock Market Move | GigaDevice Semiconductor Inc. (03986) rose more than 10% AI drives storage cycle up Storage leader SanDisk hits new high

GigaDevice Semiconductor Inc. (03986) rose more than 10%, reaching a high of 343.8 Hong Kong dollars, setting a new high since its listing. As of the time of writing, it has risen by 10.46%, closing at 338 Hong Kong dollars, with a trading volume of 2.27 billion Hong Kong dollars. In terms of news, overnight the US stock of Sandisk rose more than 9%, hitting a new historical high. Memory chip giant Micron stated that the slow expansion of wafer factories and the complex certification processes for customers make it unlikely that the current shortage of memory chips will be alleviated before 2028. A report by Morgan Stanley pointed out that in January 2026, top companies are actively purchasing DDR4 due to supply constraints, and prices in the first quarter may rise by up to 50%, with the upward trend continuing into the second quarter. The shift in production to DDR4 has also led to a severe shortage of high-density DDR3, driving growth in related suppliers' performances. Public information shows that GigaDevice Semiconductor Inc. had the largest market share for NORFlash and SLCNANDFlash products in mainland China in 2024, and the second largest market share for niche-type DRAMs in mainland China in 2024. A previous research report by EB SECURITIES pointed out that GigaDevice Semiconductor Inc. is a leading domestic niche storage company that stands to benefit from the upward trend in the storage cycle, with its diverse product portfolio expected to further expand incremental space.