US Stocks Movement: All storage chip concept stocks surge, SanDisk jumps over 10%

Glonghui, July 21 — Storage chip concept stocks rose across the board: SanDisk surged over 10%, Western Digital rose more than 9%, Micron Technology and SK hynix both climbed over 8%, Seagate Technology advanced more than 7%, Silicon Motion Technology gained over 6%, and Rambus increased by over 4%.On the news front, SK Group Chairman Chey Tae-won stated frankly at a press conference during the Jeju Forum that global semiconductor demand is set to experience explosive growth next year. Demand in the AI sector alone is expected to surge by 60%-100% compared to this year, with overall semiconductor product demand increasing by at least 50%-60%. Meanwhile, major manufacturers have virtually no substantial capacity expansion plans for next year, which is certain to further widen the supply-demand gap.After extensive visits to data center procurement channels last week, JPMorgan Stanley analyst Joseph Moore and his team confirmed that there are no signs of easing in the severity of the memory shortage. JPMorgan estimates that third-quarter data center memory prices will rise by at least 25% quarter-over-quarter for comparable products, exceeding JPMorgan’s own and third-party agencies’ previous forecasts. JPMorgan pointed out that the core logic of this storage cycle is that memory is increasingly becoming one of the main bottlenecks in AI infrastructure development, and this structural constraint is expected to persist for several years. JPMorgan maintains a positive view on the storage sector, characterizing the recent pullback as an attractive buying opportunity.