US Stock Market Move | Memory chip concept stocks rise broadly; SanDisk (SNDK.US) gains over 5%.

On Monday, memory chip concept stocks rose broadly. SanDisk (SNDK.US) and Western Digital Corporation (WDC.US) gained over 5%, Seagate Technology Holdings PLC (STX.US) rose over 4%, and Micron Technology, Inc. (MU.US) and SK Hynix (SKHY.US) gained over 3%. On the news front, South Korean Finance Minister Lee Hyung-il recently said that the semiconductor industry boom will last at least until 2027. Speaking during the IMF and World Bank annual meetings, he said the semiconductor supply-demand gap remains very large, with supply continuing to expand. The industry is currently booming with strong demand, but the gap will narrow in the long term. NVIDIA Corporation CEO Jensen Huang said customer demand for AI chip orders continues to exceed supply, with new orders pouring in almost weekly or even daily. Analyst Ives believes the selloff reflects concerns over infrastructure financing costs after US Treasury yields rose above 5%, which is a financing-level issue. Underlying demand for AI computing power remains strong, and the pullback offers buying opportunities.