Micron Stock Extends Rally to 15%; Chip, Storage Shares Jump with Western Digital, SanDisk up 11%; Seagate Tech up 10%; ARM up 7%

TigerJun 24, 2026 11:09 PM

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Micron stock extended rally to 15% after strong forecasts. Other chip, storage shares also rallied in after-hours trading. Western Digital, SanDisk up 11%; Seagate Tech up nearly 10%; UMC up 8%; Navitas, ARM up around 7%.

Micron forecast quarterly profit and revenue well above expectations on Wednesday and said its customers had committed $22 billion to lock in future supply of memory chips.

The forecast - and third-quarter results that beat Wall Street estimates - underscore how AI-driven shortages are forcing Micron's large-scale data center customers and other chip buyers to fund capacity, moves that are reshaping the memory market.

Micron, which is the only U.S.-based manufacturer of high-end memory chips used alongside Nvidia's AI processors, has seen demand for these HBM chips far outstrip its production capacity.

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