Memory Chip Stocks Rise on Goldman Sachs Outlook
Memory chip stocks are rising as Goldman Sachs suggests the worst of the sector's downturn may be over, with SK Hynix climbing nearly 5%, SanDisk up about 3%, and Micron gaining around 2%. The firm noted that both Micron and SanDisk have broken out of summer downtrends, citing light hedge fund positioning and reduced semiconductor volatility as early signs of investor re-engagement. Goldman Sachs emphasized the need for earnings to support a technical breakout in memory prices. The rally is broad-based across the memory/storage segment but runs counter to broader market weakness; the SPY ETF slipped 0.3%. Micron guided its fiscal Q4 revenue midpoint to $50 billion, while SanDisk expects the NAND market to triple by 2026. The Roundhill Memory ETF also rose as a coordinated sector bid took hold despite ongoing caution around semiconductor cyclicality and potential volatility from capacity additions or consumer spending shifts. Goldman Sachs' constructive outlook comes amid improved technical setups for memory stocks, with consolidation ranges holding through August seen as early accumulation patterns in an under-positioned market. The firm's analysis implies that the pain trade is now to the upside for funds previously underweight on semiconductor exposure.
Topics: Goldman Sachs memory_chips stock_prices