US Stocks Movement | Chip Stocks Rise Broadly, Sandisk (SNDK.US) Up Over 6%

According to Zhitong Finance APP, on Monday, chip stocks rose across the board. SanDisk (SNDK.US) rose by over 6%, Micron Technology (MU.US), Seagate Technology (STX.US), Intel (INTC.US), and SK Hynix (SKHY.US) all increased by more than 5%. Advanced Micro Devices (AMD.US), Western Digital (WDC.US), and Applied Materials (AMAT.US) gained over 4%, while Broadcom (AVGO.US) climbed more than 3%.

On the news front, SK Hynix Chairman Choi Tae-won stated at the Jeju Forum of the Korea Chamber of Commerce and Industry that next year, AI semiconductor demand is expected to grow by 60% to 100% year-on-year, and overall memory semiconductor demand will also increase by 50% to 60%. In the meantime, major manufacturers have virtually no substantial expansion plans for production capacity next year, so the supply-demand gap is bound to widen further. He bluntly stated that the degree of competition among global companies for memory supply "must be described as panic."