Chip Stocks Rebound in Premarket Trading as Micron and SanDisk Surge After Thursday Crash

Chip stocks are bouncing back in premarket trading on Friday, November 6, 2026, one day after a brutal selloff wiped out trillions of dollars in market value. Micron Technology is up about 8 percent before the opening bell, SanDisk is up about 9 to 10 percent, and SK Hynix is up about 5 percent. Nvidia, AMD, Intel, and Broadcom are all higher too, with gains from about 4 percent to about 8 percent. Nasdaq 100 futures are up about 1.5 percent, which points to a calmer open after Thursday turned into one of the worst days for technology stocks in more than a year.

The rebound is real, but it is only a partial recovery so far. Thursday was a historic down day. The Nasdaq Composite fell 5.52 percent, its worst session since April 2025, and closed in correction territory. Micron lost 17.46 percent. SanDisk lost 22.26 percent. Even after Friday morning gains, both stocks are still far below where they closed on Wednesday. These numbers can change before the 9:30 a.m. ET open.

Quick Facts

How Big the Rebound Is So Far

The early numbers on Friday show buyers stepping back into the names hit hardest on Thursday. Micron is the clearest example. The memory chip maker lost more than 17 percent on Thursday, and it is now up about 8 percent in premarket trading. That still leaves the stock well below its Wednesday close, but it shows that some investors see Thursday as an overreaction. SanDisk is moving even more. The storage company fell 22.26 percent on Thursday, the worst drop among the big memory names, and it is up about 9 to 10 percent before the bell. SanDisk is up more than 200 percent for the year even after Thursday, so a 10 percent gain only recovers less than half of one session losses.

The rebound is broad, not limited to memory chips. Nvidia is up about 3.6 percent after its biggest one-day fall since January 2025. AMD, Intel, and Broadcom are up between 5 percent and 8.3 percent. SK Hynix is up about 4.9 percent after falling 10.44 percent in South Korea on Thursday. Even so, futures are mixed. Nasdaq 100 futures are up about 1.5 percent, but Dow futures are down about 0.6 percent, held back by Apple, down about 4 percent after forecasting a narrower gross margin.

What Happened on Thursday

Thursday, November 5, was a day investors will remember for a long time. The Nasdaq Composite fell 5.52 percent to 24,315.00, a drop of 1,421.52 points. It was the index worst day since April 2025 and its deepest one-day fall in 19 months. The close put the Nasdaq about 11.9 percent below its record close of October 6, which meets the usual definition of a correction. The Nasdaq 100 fell even more, dropping 6.36 percent in its worst day since 2020. The S and P 500 fell 4.36 percent, and the Dow fell 1,833.06 points, more than erasing the 1,569-point gain from the day before.

The damage was worst in the chip and AI infrastructure names that had led the market higher for most of 2026. SanDisk led the declines with its 22.26 percent fall. Micron fell 17.46 percent. Western Digital fell 17.35 percent. AMD fell 17.26 percent. Broadcom fell 10.43 percent. Nvidia fell 9.26 percent to 181.60 dollars, erasing its gains for the year. Nearly 3 trillion dollars of market value was wiped off S and P 500 companies in a single session, according to Reuters. For a full account, read our report on the Nasdaq correction and the Dow plunge of 1,833 points on November 5.

Why Investors Got Scared After the Midterms

The main fear behind Thursday selloff is that Democratic wins in the midterm elections could slow down the building of AI data centers. Democrats took control of the US Congress, and many investors now worry that tougher regulation of artificial intelligence could follow. If new rules make it harder or slower to build data centers, or raise the cost of the power and land they need, then demand for the memory chips and processors that fill those centers could grow more slowly than Wall Street had assumed. That fear hits memory chip makers first, which is why Micron and SanDisk fell hardest.

Bloomberg reported that Micron has paused construction of a 4.5 billion dollar memory chip plant in Taoyuan, Taiwan, because of an ongoing labor dispute with the local union over profit-sharing terms. The results were known on Wednesday, when the market rallied. The difference on Thursday was the second reading, and it was far more negative than the first. The selloff also spilled beyond stocks. The same fear shook crypto markets, where leveraged traders were forced to sell in a hurry. Our coverage of that side of the rout, Bitcoin falling below 76,000 dollars as Ethereum drops and liquidations pile up, shows how the same risk-off mood ran through several markets at once.

IREN Results Gave Buyers a Reason to Step Back In

One of the clearest reasons for Friday morning rebound is a set of results from IREN, an AI cloud company that runs data centers for artificial-intelligence workloads. IREN reported fiscal first-quarter revenue of 228 million dollars, beating estimates of about 221 million dollars. Its shares are up about 17.5 percent in premarket trading. That matters because IREN is exactly the kind of company investors were worried about on Thursday. If data-center demand were about to collapse, a company like IREN would be one of the first to show it. Instead, its revenue came in ahead of expectations, which suggests customers are still spending on AI infrastructure.

There is another factor at work too: simple bargain hunting. After a 12 percent drop in the semiconductor index and 17 to 22 percent drops in the leading memory stocks, some investors decided that prices had fallen too far, too fast. Sharp one-day falls often attract buyers the next morning, and Friday morning is following that script. Even after Thursday, the big chip names are still up strongly for the year.

What Comes Next: Jobs Report and the December Rate Call

The next big test comes at 8:30 a.m. ET on Friday, when the October US jobs report is released. It carries extra weight this week because it will shape what traders expect the Federal Reserve to do next. Traders are pricing in a more than 65 percent chance of a rate hike in December, according to the CME FedWatch Tool. A strong jobs report could push that probability higher, while a weak one could pull it down. Higher rates make it more expensive for companies to borrow money to build data centers. If the jobs report comes in hot and rate-hike bets rise, Friday rebound could fade quickly.

Beyond the jobs report, the bigger question is whether the political fears that drove Thursday selloff will fade or grow. So far, the fears are about what might happen, not about any law that has actually passed. No new regulation has been written, no data-center project has been cancelled by Congress, and no company has cut its spending plans because of the election result. The market is pricing in a risk, not a fact. A premarket bounce after a historic selloff is normal, but it is not proof that the worst is over. The Nasdaq is still in correction territory, down about 12 percent from its October record. When markets fall this fast, even the largest fortunes shrink quickly, as our report on Elon Musk losing 80 billion dollars of net worth in the Tesla and SpaceX selloff shows.

Frequently Asked Questions

Why are chip stocks up in premarket trading on Friday, November 6?

Chip stocks are up because buyers are stepping back in after Thursday selloff, and because IREN reported fiscal first-quarter revenue of 228 million dollars, beating estimates of about 221 million dollars. That reassured investors that demand for AI data-center infrastructure is still strong. Micron is up about 8 percent and SanDisk is up about 9 to 10 percent.

How much did chip stocks fall on Thursday, November 5?

Thursday was one of the worst days for chip stocks in years. SanDisk fell 22.26 percent, Micron fell 17.46 percent, Western Digital fell 17.35 percent, AMD fell 17.26 percent, and Nvidia fell 9.26 percent. The Nasdaq Composite fell 5.52 percent and closed in correction territory.

What caused the chip stock crash on November 5?

The main driver was fear that Democratic midterm wins could lead to tougher AI regulation and slower data-center construction, which would cut demand for memory chips and processors. Investors had celebrated the election results on Wednesday, then reconsidered them on Thursday and sold heavily. A Bloomberg report that Micron paused construction of a chip plant in Taiwan added to the pressure.

Is the Nasdaq in a correction after Thursday selloff?

Yes. The Nasdaq Composite closed at 24,315.00 on Thursday, about 11.9 percent below its record close of October 6. A correction is generally defined as a fall of 10 percent or more from a recent high. The index is also on track for a fourth straight weekly fall. Friday premarket rebound has not changed that picture, because premarket moves do not count toward the close.

Sources

Reuters: Nasdaq futures rise after steep AI selloff as chip stocks stabilize

TipRanks: Micron, SanDisk, and SK Hynix stocks are surging after Thursday crash

Morningstar: Chip, cloud-computing stocks stage relief rally premarket after Asia rout

Final Thoughts

Friday morning rebound is a welcome sight after one of the ugliest days the market has seen in years, but it is only the first step. Micron up 8 percent and SanDisk up 10 percent sound like huge moves, and they are, yet both stocks are still far below where they stood on Wednesday. The Nasdaq is still in correction territory. The fears that drove Thursday selloff have not been answered. They have only been paused by strong results from IREN and by buyers who decided one day of panic was enough.

The honest way to read this morning is as a relief rally, not a verdict. The October jobs report, due at 8:30 a.m. ET, will be the next big input. Until investors get more clarity on regulation, rates, and the real pace of AI spending, expect more big swings in both directions.