Memory and storage stocks surged after a two-week ceasefire between the U.S. and Iran was announced this week, easing fears around a potential disruption in the Strait of Hormuz and restoring risk appetite across semiconductor markets. Shares of Seagate Technology Holdings plc (STX) and Sandisk Corporation (SNDK) rallied sharply alongside peers, reversing recent weakness as investors rotated back into high-beta AI infrastructure plays.
Just days earlier, geopolitical tensions had weighed on the sector, triggering a pullback in memory names. The ceasefire announcement, while temporary, has improved near-term supply chain visibility, particularly for critical inputs like energy and industrial gases, allowing investors to refocus on the powerful artificial intelligence (AI)-driven demand cycle.
