US Stock Market Move | Memory sector opens broadly higher; SanDisk (SNDK.US) rises over 8%

On Wednesday, the memory sector opened broadly higher, with SanDisk (SNDK.US) up over 8%, SK Hynix (SKHY.US) and Seagate Technology Holdings PLC (STX.US) up over 6%, and Micron Technology, Inc. (MU.US) and Western Digital Corporation (WDC.US) up over 5%. On the news front, a new round of price increases in the memory market is unfolding in a rather asymmetric manner. Recently, multiple memory industry sources revealed that some leading companies have verbally informed channel distributors of their intention to raise prices for enterprise-grade chips. Formal price increase letters have not yet been issued, but prices on the channel side have already begun to move. Bank of America Corp (BofA), citing comments from TrendForce Corp. senior analyst Avril Wu, said the memory chip industry can sustain its current upcycle until 2027 and avoid entering a downcycle in 2028. Speaking on a Bank of America Corp-hosted webcast on November 10, Wu said memory prices may continue to rise, with DRAM and high-bandwidth memory prices expected to increase 10% to 20% quarter-over-quarter in the fourth quarter of 2026, while NAND memory prices will rise 8% to 13%. She also expects HBM prices to more than double by 2027, while long-term supply agreements may help reduce price volatility after 2028.