WDC, SNDK, MU Rebound Overnight; WDC Up 3.3%, SNDK and MU Up Over 2% After Week-Long Selloff

According to traders on StockTwits, U.S. memory stocks rebounded overnight late Sunday after sharp declines earlier in the week. Western Digital (WDC) shares rose 3.3%, while SanDisk (SNDK) and Micron (MU) were up over 2%, and the Roundhill Memory ETF (DRAM) gained 0.8%. The rally follows a selloff triggered by reports that AI startup Anthropic was considering a custom chip partnership with Samsung, causing SNDK to drop over 14%, WDC to fall 10%, and MU to decline 5.5%.

Traders are positioning ahead of Samsung Electronics' third-quarter earnings report due Tuesday, with Bloomberg consensus estimates showing a preliminary operating profit of 84.3 trillion won ($55.1 billion), an 18-fold increase year-over-year, and revenue projected at 169 trillion won, up 127%. Additionally, SK Hynix is scheduled to list on Nasdaq on Friday, July 10, with retail sentiment on StockTwits showing extreme bullish sentiment for SNDK and DRAM.