Memory and Storage Shares Rise as Semiconductor Index Gains 2.8%

Memory and storage shares climbed in U.S. trading Monday, with Sandisk up 7.23% and the Philadelphia Semiconductor Index rising 2.8% in a broad advance across the chip sector.

Western Digital gained 5.96%, while SK hynix rose 5.07%. Micron Technology advanced 4.18%, and Seagate Technology climbed 4.67%. Three of those five companies gained more than 5%, while the other two rose more than 4%.

All five outpaced the semiconductor index in the market snapshot. Sandisk's increase exceeded the index's by 4.43 percentage points, the widest gap among those five stocks. Micron had the smallest gain in that set but still rose 1.38 percentage points more than the index.

The gains covered memory chipmakers and data storage companies. SK hynix, a South Korean chipmaker with shares trading in the U.S., joined U.S.-traded storage names in the advance. The Philadelphia Semiconductor Index provides a broader measure of chip stocks alongside the individual share moves.