Semiconductor Stocks Rebound as Micron, SK Hynix, SanDisk Rise

Micron, SK Hynix and SanDisk shares rose Friday as semiconductor stocks rebounded from a sharp Thursday selloff, with Micron up over 3%, SK Hynix over 4% and SanDisk 1.4%. The recovery followed a 6.7% drop in the Philadelphia Semiconductor Index on Thursday, its worst day since June 23, driven by investor concerns over rising borrowing costs and heavy corporate debt for AI investments. SK Hynix's decision to abandon its Solidigm US IPO also boosted sentiment by removing a potential future source of NAND flash supply expansion. Analysts remain divided on the sector's outlook, with some viewing the weakness as technical and short-lived while others urge caution. DA Davidson reiterated a buy rating on Micron with a $3,000 price target, citing its leadership in DRAM, NAND and high-bandwidth memory for AI systems.