Memory and storage stocks outpaced the Philadelphia Semiconductor Index in afternoon trading Oct. 19 as the benchmark ended an eight-session losing streak, closing up 1.61%.
An afternoon snapshot put Sandisk up 7.23%, Western Digital 5.96% and SK hynix 5.07%. Seagate Technology gained 4.67% and Micron Technology rose 4.18%. All five were ahead of the chip index, which was up 2.8% at that point. Sandisk had the largest lead over the benchmark, at 4.43 percentage points.
The index gave back part of its afternoon advance before the close, when Nasdaq data put its gain at 1.61%. The snapshot captured moves across memory chipmakers and data-storage companies during the session, rather than their closing gains.
Reuters reported that the chip index’s eight-session decline totaled about 15.7% and was its longest run of daily losses since October 2008. Reuters said declines in Treasury yields and crude prices helped chip shares rise in premarket trading.
The afternoon moves followed premarket gains in the same five stocks. That earlier report put SK hynix up 3.85% and Sandisk up 3.56%; both had risen further by the afternoon snapshot.
Western Digital plans to report fiscal first-quarter 2027 results after the U.S. market closes Oct. 22. Sandisk has scheduled its fiscal first-quarter earnings call for Oct. 29.
