GigaDevice Semiconductor rises over 6% as U.S. stock storage sector surges overnight; strong demand for memory is expected to continue into next year

2026-02-24 12:04:48

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GigaDevice (603986) (03986) rose over 6%. As of the latest report, it increased by 6.01%, trading at HKD 313.8, with a turnover of HKD 190 million.

In the news, the U.S. stock storage sector surged overnight, with SanDisk up 10.65% and Micron Technology up 9.94%. Previously, Morgan Stanley raised its target price for Micron to $450. Notably, Samsung Electronics’ CTO stated that the company expects strong demand for memory chips not only to continue throughout this year but also to persist into next year, driven by artificial intelligence boosting robust demand.

Tianfeng Securities (601162) recently reported that GigaDevice is a platform chip design company benefiting from the “AI + domestic substitution + storage cycle uptrend” threefold positive resonance. The firm forecasts the company’s revenue for 2025-2027 to be 9.203 billion, 11.386 billion, and 13.878 billion yuan, respectively, with net profits attributable to shareholders of 1.610 billion, 2.589 billion, and 2.769 billion yuan. The firm believes GigaDevice has sufficient growth momentum in the future forecast period, with strong resilience in performance.

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