Memory Chip Stocks Surge 3-6% as U.S.-Iran Halt Strikes; SKHY Leads Rally

Memory chip stocks surged Monday after reports that the U.S. and Iran halted strikes over the weekend, spurring a relief rally across equities. SK Hynix jumped 6% in premarket trading, while Micron gained 3%, and SanDisk and Western Digital each rose over 4%. The Roundhill Memory ETF (DRAM) advanced approximately 5%.

The rebound marks a reversal for the sector, which fell heavily in recent weeks amid profit-taking. DRAM is down 28% this month, with Micron's market capitalization dropping below $1 trillion on July 16 and remaining there since.