PHLX Semiconductor Sector Index rebounds 3.19% as chip shares rise
Intel, Micron and Sandisk advanced, while Micron's latest quarterly results showed higher cloud-memory and data-centre revenue.
Theo Marchetti
Nasdaq's PHLX Semiconductor Sector Index rose 3.19 per cent to 11,492.55 at 12:13 p.m. EDT on Monday, according to the exchange's market data. The advance was measured against its Oct. 16 closing level of 11,137.29.
Intel Corporation NASDAQINTC rose 5.13 per cent to US$94.46 on Nasdaq at 12:10 p.m. EDT on Oct. 19. Micron Technology, Inc. NASDAQMU gained 4.58 per cent to US$919.11 on Nasdaq at 12:12 p.m. EDT on Oct. 19.
Sandisk Corporation NASDAQSNDK advanced 7.49 per cent to US$1,396.64 on Nasdaq at 12:16 p.m. EDT on Oct. 19, according to the exchange's quote.
The gains came against a backdrop of Micron's Sept. 30 results, which attributed record performance to AI demand and operational execution. Sandisk's investor page identifies cloud and AI infrastructure among its markets and schedules its next earnings call for Oct. 29.
Micron's Results Show Growth Across Memory Markets
Micron reported revenue of US$54.23 billion for the quarter ended Sept. 3, compared with US$41.46 billion in the preceding quarter. Its operating cash flow reached US$43.97 billion, up from US$25.39 billion, according to the Sept. 30 release.
In the Sept. 30 results, Micron's cloud-memory business generated US$16.28 billion in quarterly revenue, compared with US$13.77 billion in the preceding period. Its core data-centre business reported US$18.00 billion, up from US$11.52 billion, in the same results.
Micron's mobile and client business also grew, with revenue of US$13.11 billion compared with US$11.52 billion in the preceding quarter, according to the Sept. 30 results.
Those business-unit figures provide evidence of growth in memory revenue from cloud and data-centre customers. They give the sector's rebound an operating backdrop, although the company's results preceded Monday's trading and do not establish what prompted individual share purchases.
"Micron delivered record fiscal 2026 results, and we expect an even stronger fiscal 2027," Micron chairman and chief executive Sanjay Mehrotra said in the Sept. 30 release.
Micron also said revenue from its server LPDDR SOCAMM memory portfolio more than doubled from the preceding quarter. Its Sept. 30 release reported shipments of high-performance solid-state drives to customers.
Sandisk's Earnings Will Test The Storage Outlook
Sandisk describes itself as a semiconductor-memory company focused on NAND flash, with products serving consumer devices, cloud computing and AI infrastructure. Its exposure gives investors another company to compare with Micron when assessing spending on memory and storage.
The three advancing shares establish breadth across the selected companies, rather than a count of every index constituent. Their quoted prices were recorded at different times, so the figures describe separate midday snapshots.
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Sandisk's fiscal first-quarter earnings call is scheduled for Oct. 29 at 4:30 p.m. EDT. The report will provide an opportunity to compare its reported storage-business performance and management's outlook with Micron's recent results.
