Chip stocks rise August 18 after a rough summer

Micron, SanDisk, and Seagate led chip-stock gains on August 18, 2026, as confidence in AI spending returned. Semiconductor stocks had fallen about 20% from June's record highs by mid-July; Micron alone fell 25% from its peak. The rebound came alongside rising Treasury yields — government bond returns that push up borrowing costs and make it harder for companies to justify high share prices.