US stocks move unexpectedly | Multiple positive catalysts drive storage concept stocks to extend their gains from the previous day in pre-market trading

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Gelonghui March 18 | Storage concept stocks continued their rally before the market opened, with SanDisk up 3.6%, Micron Technology up 2.8%, Seagate Technology and Western Digital each up 2.5%.

On the news front, SK Hynix Chairman Chey Tae-won recently stated that the global chip wafer shortage is expected to continue until 2030, with a shortfall possibly exceeding 20%. Another storage giant, Samsung Electronics, announced that union members voted to strike today. If the strike proceeds, chip production will be halted in mid-May, potentially worsening the global semiconductor supply bottleneck.

Additionally, Micron Technology recently announced that its HBM4 high-bandwidth memory chips for NVIDIA’s next-generation Vera Rubin AI platform have entered mass production, further boosting market sentiment. Micron will release its earnings after the US market closes today. According to analyst estimates compiled by FactSet, Micron’s revenue for Q2 of fiscal year 2026 is expected to reach $19.8 billion, a year-over-year increase of about 145%; adjusted earnings per share are projected at $9.19, with net profit around $10.3 billion, up approximately 489%. (Gelonghui)

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