Shares of SanDisk Corp. (NASDAQ:SNDK), Western Digital Corp. (NASDAQ:WDC) and Seagate Technology Holdings PLC (NASDAQ:STX) surged sharply in after-hours trading on Wednesday, lifted by a blowout earnings report from Micron Technology Inc. (NASDAQ:MU).
The gains in late trading session reflect a ripple effect, where earnings from a major industry player drive moves in related stocks. Micron’s strong results triggered a sympathy rally in WDC, SNDK and STX, which are exposed to the same demand trends.
Sector Stocks Reverse Intraday Losses After the Bell
All three technology stocks reversed intraday losses in after-hours trading following Micron’s results.
| Company | Wednesday Close Price | Regular Session Change | After-Hours Price | After-Hours Change |
|---|---|---|---|---|
| Sandisk | $1,921.42 | -2.15% | $2,150.83 | +11.94% |
| Western Digital | $644.38 | -3.93% | $724.00 | +12.36% |
| Seagate Technology | $993.45 | -4.35% | $1,091.32 | +9.85% |
Trading volume for all three names remained active during the regular session.
| Company | Market Cap | Avg. Volume | Volume |
|---|---|---|---|
| Sandisk | 284.54B | 11.61M | 10.42M |
| Western Digital | 221.92B | 8.08M | 12.21M |
| Seagate Technology | 224.72B | 3.86M | 4.26M |
Micron’s Numbers Signal A Robust Memory Upcycle
On Wednesday, Micron posted fiscal third quarter revenue of $41.46 billion, well above the $35.6 billion analyst estimate. Adjusted earnings per share of $25.11 topped the $20.60 forecast. Year-over-year revenue growth of roughly 346% reflects surging demand for high-bandwidth memory (HBM) and advanced DRAM.
The guidance of $50 billion in revenue and $31 EPS both stand well ahead of analyst estimates.
With a strong Momentum in the 99th percentile, Benzinga’s Edge Stock Rankings indicate that MU has a positive price trend across all time frames.
Photo: Mentor57 / Shutterstock
Disclaimer: This content was partially produced with the help of AI tools and was reviewed and published by Benzinga editors.
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