US Stock Market Move | Storage concept rose in intraday trading, Micron Technology, Inc. (MU.US) surged more than 6% to hit a new all-time high.

On Wednesday, storage concept stocks rose in midday trading, with Micron Technology, Inc. (MU.US) rising over 6% to hit a historical high, Seagate Technology Holdings PLC (STX.US) up over 3%, SanDisk (SNDK.US) up more than 2%, and Western Digital Corporation (WDC.US) up over 1%. In terms of news, a study by Goldman Sachs Group, Inc. showed that Micron Technology, Inc. alone contributed to about 51% of the upward revision of S&P 500 profit expectations, becoming the core driving force behind the current round of profit expectation upgrades. Prior to the earnings release, Goldman Sachs Group, Inc. had already identified Micron as a key investment target, with its EPS forecast for 2026 about 19% above market consensus expectations. Data shows that analysts' consensus EPS growth forecast for Micron in 2026 is as high as 605%, with profit expectations revised up by 93% since February 27, nearly doubling in just a few weeks. Goldman Sachs Group, Inc. pointed out that this change is mainly driven by the surge in demand for AI infrastructure and increased defense technology spending, driving semiconductor demand rapidly upward and quickly reflected in analyst models.