MU and WDC each up 1.09% premarket and SNDK up 0.44% barely registers against Friday's 5–13% drops, and that's my read on memory stocks…

MU and WDC each up 1.09% premarket and SNDK up 0.44% barely registers against Friday's 5–13% drops, and that's my read on memory stocks this Monday morning, Nov. 2. I'm still wary of the AI memory trade over the long run, and small green numbers before the open don't move me.

• Friday Oct. 30 was ugly: $MU closed down 5.30%, WDC down 7.41%, and SNDK down 13.47%. Reuters tied the broader tech rout to Intel's weak outlook and Amazon's results and heavy AI spending.
• As of 13:30 UTC on Nov. 2, MU and WDC were each up 1.09% premarket and SNDK was up 0.44%. That claws back only a sliver of Friday's damage.
• SanDisk fell despite strong numbers. It reported fiscal Q1 revenue of $11.0B on Oct. 29, guided Q2 to $12.2B-$12.6B, and announced an 8-for-1 split effective Nov. 19. Good results that still get sold tell me expectations were already stretched.
• Bloom Energy and Vertiv show the same rebound pattern after Friday drops, per CNBC, which reads more like a broad AI hardware bounce than a memory-specific vote of confidence.

Memory has always been cyclical, and one premarket session can't show that AI demand has changed that. I could be wrong if the bounce holds through this week's tech earnings, but I'd want to see that before treating it as more than a relief move.

Sources:
https://www.cnbc.com/2026/11/02/stocks-making-the-biggest-moves-premarket-crwd-rivn-mu.html
https://www.reuters.com/business/nasdaq-futures-tumble-amazon-intel-results-deepen-ai-spending-woes-2026-10-30/
https://finance.yahoo.com/markets/stocks/articles/sndk-tumbles-amid-tech-selloff-030548881.html

Not financial advice. For informational and educational purposes only.