Sandisk Soars 8.88% and Micron Gains 4.13% as Memory Stocks Dominate US Turnover

Key Takeaways

• Micron led Monday’s turnover ranking with $33.64 billion traded, rising 4.13%, while Sandisk surged 8.88% on turnover of $31.42 billion.
• Nvidia finished nearly unchanged after committing as much as $105 billion in support for an Ohio AI data-center campus to be leased by OpenAI.
• Tesla reportedly accelerated Cybercab testing and prepared a flying Roadster demonstration, while Apple faced reports of global iPhone 17 price increases.
• Meta fell as a major youth-safety trial began, and Reddit dropped before its scheduled addition to the S&P 500.

Memory and storage stocks dominated Monday’s most actively traded US shares, outperforming a generally weaker technology market as investors focused on tightening chip supplies and rapidly expanding artificial-intelligence workloads.

Micron Technology ranked first by trading value, closing 4.13% higher on turnover of approximately $33.64 billion. Sandisk followed with a gain of 8.88% and turnover of about $31.42 billion, extending its five-session advance to roughly 35%.

Memory Stocks Defy the Broader Technology Pullback

The latest rally followed renewed attention on memory as a potential bottleneck for AI infrastructure. Elon Musk recently endorsed the view that memory capacity, rather than computing power alone, could restrict the expansion of agentic AI systems.

The comment reinforced an existing bullish argument for manufacturers of DRAM, NAND flash and high-bandwidth memory. Demand from AI training, inference and data centers has increasingly competed with smartphones, personal computers and other consumer products for available supply.

Micron has said industry demand for DRAM and NAND continues to exceed supply and that tight conditions could last beyond 2027. Sandisk, meanwhile, recently presented a long-term strategy centered on enterprise SSDs, high-bandwidth flash and multiyear customer contracts. The company expects these agreements to make its traditionally cyclical business more predictable.

US pressure on Apple to avoid sourcing memory chips from Chinese producers also supported American suppliers. The Trump administration has reportedly urged Apple not to purchase chips from companies such as CXMT and Yangtze Memory Technologies, citing national-security and domestic-manufacturing concerns. Barron’s reported that this policy development helped lift Micron and other US memory names.

Nvidia Flat Despite $105 Billion Ohio AI Commitment

Nvidia ranked third with approximately $21.06 billion in turnover but slipped 0.07%.

The muted response came despite the company announcing substantial backing for the PORTS-Pike Technology Campus in Ohio. Nvidia agreed to provide up to $105 billion in financial support related to the project, which is being developed by SB Energy and will exclusively use Nvidia computing systems.

OpenAI plans to lease as much as eight gigawatts of computing capacity at the campus under a long-term agreement. The first 800 megawatts are expected to become operational by 2028. Nvidia is also investing $1.5 billion in SB Energy, according to details of the Ohio data-center agreement.

SpaceX Rises as Family Offices Disclose Large Positions

SpaceX placed fourth, advancing 4.45% on turnover of approximately $17.02 billion.

Regulatory filings showed that more than a dozen family offices held at least $3.8 billion of SpaceX shares through the first half of 2026. Tao Capital, which manages money for Hyatt Hotels heir Nick Pritzker, disclosed a position worth about $1.8 billion at the end of June.

BlueCrest Capital and an investment firm linked to Brazil’s Moreira Salles family each reported holdings exceeding $100 million. The disclosures indicate that wealthy private investors accumulated significant exposure despite SpaceX’s volatile performance following its June listing. The filings were compiled by Bloomberg.

Microsoft Drops Despite Strong Data-Center Bond Demand

Microsoft fell 3.04%, with turnover reaching roughly $14.17 billion.

A Microsoft-linked bond offering for a Georgia data-center project attracted more than $8 billion of investor orders, more than twice the planned deal size. The issuance, arranged through subsidiaries of Blackstone-backed QTS Realty Trust, could be increased to approximately $3.9 billion after strong demand allowed the borrowers to add around $1 billion.

The financing offered yields comparable to lower-rated corporate debt despite expectations that it would receive investment-grade ratings, highlighting investors’ appetite for securities tied to AI infrastructure.

Apple Faces Reports of Global iPhone 17 Price Increases

Apple ranked sixth, slipping 0.11% on turnover of approximately $11.46 billion.

Supply-chain reports indicated that Apple was considering broader price increases for its existing iPhone 17 lineup before the end of August. The possible adjustments were attributed to rising memory and storage costs, with increases reportedly capped at about 1,000 yuan, or roughly $140, depending on the market and model.

Apple has already raised iPhone prices in Japan by approximately 8% to 11%. However, the company had not officially confirmed a worldwide iPhone 17 adjustment as of Monday, making the timing and size of any additional increases uncertain.

Tesla Advances Cybercab Testing and Roadster Plans

Tesla declined 0.87% on turnover of around $8.70 billion.

The company is scaling production and public-road testing of its Cybercab, a purpose-built robotaxi ultimately designed without a steering wheel or pedals. Reports have pointed to a broader August rollout, although footage of more than 100 Cybercabs in Dallas showed that some vehicles still contained steering wheels, suggesting they were being used for validation and mapping rather than commercial service. Tesla confirmed in July that production and engineering tests had begun.

Tesla is also reportedly preparing a demonstration of a limited-edition Roadster equipped with SpaceX-developed cold-gas thrusters. The remotely controlled presentation could take place at SpaceX’s McGregor, Texas, testing facility as early as August, although no firm date has been confirmed.

Meta and Reddit Retreat on Legal and Index News

Meta Platforms fell 3.54% on turnover of $9.67 billion as a major trial began in Oakland, California. California, Colorado, Kentucky and New Jersey accuse Meta of designing addictive Facebook and Instagram features for young users, misleading the public about safety and violating children’s privacy rules.

The states are seeking product changes and damages theoretically reaching $1.4 trillion, although legal specialists consider the maximum penalty unlikely. Meta denies the allegations and says it has introduced extensive protections for minors. The trial could establish an important precedent for social-media liability.

Reddit dropped 7.63% on turnover of approximately $6.26 billion ahead of its addition to the S&P 500 before Tuesday’s trading session. The decline followed an earlier index-related rally despite strong operating results: Reddit’s second-quarter revenue increased 61% to $805 million, while net income climbed 183% to $253 million. Reddit has now recorded eight consecutive quarters of revenue growth exceeding 60%.

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