Chip stocks rebound August 18 after summer's 20% AI-driven plunge

Micron, SanDisk, and Seagate led chip-stock gains on August 18, 2026, as confidence in AI infrastructure spending returned. Semiconductor stocks had fallen roughly 20% from June record highs by mid-July; Micron alone dropped 25% from its peak. The rebound coincided with rising Treasury yields, which raise borrowing costs and pressure valuations of companies with long-duration earnings.