Memory Stocks Surge as AI-Driven Rebound Accelerates
Memory stocks extended their rebound on July 21, 2026, with SanDisk rising 8%, Western Digital jumping 9%, and Micron adding 7%. The rally was fueled by Bank of America analyst Vivek Arya raising Micron's price target to $1,550, citing an eighth straight quarterly EPS beat and a $246 billion high-bandwidth memory opportunity by 2030. UBS also issued a bullish note, projecting Micron could repurchase over 40% of its shares and generate $400 billion in free cash flow through 2028. SanDisk and Western Digital rode the broader memory wave, with SanDisk up 533% year-to-date and Western Digital up 207%. The gains follow a summer pullback and are underpinned by strong AI demand, with Micron locking in 16 multi-year Strategic Customer Agreements. The Roundhill Memory ETF also rebounded alongside the group.
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