US Stock Market Move | Storage sector rebounds, SanDisk (SNDK.US) rises more than 6%

On Thursday, the storage sector strengthened, with SanDisk (SNDK.US), Seagate Technology Holdings PLC (STX.US) rising over 6%, Western Digital Corporation (WDC.US) rising over 3%, and Micron Technology, Inc. (MU.US) rising nearly 2%. In terms of news, on Wednesday, SanDisk CEO David Goeckeler told investors that the flash memory market will continue to be in short supply for a "long time", providing an excellent opportunity for the memory manufacturer to restructure its business. As storage chips become a key component in the AI industry boom, SanDisk is shifting towards signing long-term agreements to provide both the company and its buyers with clearer expectations for future orders and expenditures. Goeckeler stated at a JPMorgan conference that this model should help stabilize this once highly cyclical industry.