With Memory chips (DRAM) up 3.4%, this looks like a sector-led move rather than a company-specific surprise.
Memory chip stocks are rallying, reversing the previous session's losses which were driven by a cautious outlook from NAND producer Kioxia. Investors are now refocusing on the strong, long-term demand for memory, particularly for AI data centers. This positive outlook is supported by recent strong earnings from SanDisk and SK Hynix, with SK Hynix expecting memory shortages to persist through 2030. Micron's high-bandwidth memory is reportedly sold out for 2026, underscoring the robust demand from the AI sector. Additionally, a report from GigaDevice on November 3rd indicated that niche memory, including DRAM, will remain in tight supply with elevated prices.