Semiconductor stocks rebound as Micron, SK Hynix, SanDisk recover

Shares of Micron, SK Hynix, and SanDisk rose Friday as the broader semiconductor sector rebounded from a tech-led selloff, with the Philadelphia Semiconductor Index climbing over 1%. Micron gained more than 3%, SK Hynix rose over 4%, and SanDisk added 1.4%, recovering from Thursday's sharp decline when the SOX fell 6.7%, its worst day since June 23. The rebound followed investor concerns about rising financing costs and corporate bond issuance for AI investments. SK Hynix's decision to cancel the planned U.S. IPO of its Solidigm unit supported sentiment, as analysts said it removes a potential funding source for NAND flash capacity expansion, potentially supporting prices. Analysts remain divided on whether the sector's weakness is technical or fundamental.