Sandisk and memory stocks rip ahead of Nvidia CEO’s speech
Memory stocks such as Sandisk, Micron, and disk drive makers Western Digital and Seagate sprinted ahead Monday, as this week’s big AI conference for tech bellwether Nvidia gets underway with a speech from the CEO slated for this afternoon.
As Luke Kawa pointed out earlier, CEO Jensen Huang’s speechifying at high-profile company announcements or industry events hasn’t always been a good thing for Nvidia shares. (The chip designer is holding its GPU Technology Conference, or GTC, this week.)
But Huang’s pronouncements have, at times, been pretty dang helpful for share prices of some companies in the orbit of the AI gods. Perhaps foremost among them are the memory stocks that have blasted toward the top of the S&P 500 in terms of price performance in recent years.
Case in point: the nearly 30% gain that Sandisk posted on January 6, the day after Huang’s keynote speech at the Consumer Electronics Show in Las Vegas, in which he spotlighted memory as a key bottleneck constraining the AI build-out. (Fellow memory plays Western Digital, Seagate Technology Holdings, and Micron also posted double-digit gains that day.)
Memory stocks have been the highest-profile outlet for bullish AI industry impulses this year, and notable comments from Huang could put the wind back in their sails after they had slowed in recent weeks.
Of course, there are also other things happening in the sector, such as Micron’s announcement Sunday that it completed an acquisition of a new manufacturing site in Taiwan.
Either way, memory stocks are pushing higher after having exhaled a bit lately.
But Huang’s pronouncements have, at times, been pretty dang helpful for share prices of some companies in the orbit of the AI gods. Perhaps foremost among them are the memory stocks that have blasted toward the top of the S&P 500 in terms of price performance in recent years.
Case in point: the nearly 30% gain that Sandisk posted on January 6, the day after Huang’s keynote speech at the Consumer Electronics Show in Las Vegas, in which he spotlighted memory as a key bottleneck constraining the AI build-out. (Fellow memory plays Western Digital, Seagate Technology Holdings, and Micron also posted double-digit gains that day.)
Memory stocks have been the highest-profile outlet for bullish AI industry impulses this year, and notable comments from Huang could put the wind back in their sails after they had slowed in recent weeks.
Of course, there are also other things happening in the sector, such as Micron’s announcement Sunday that it completed an acquisition of a new manufacturing site in Taiwan.
Either way, memory stocks are pushing higher after having exhaled a bit lately.
