Lam Research Jumps 4% as Chip Stocks Rebound and DataDog Slides on Downgrade

2 articles · Updated · CNBC · Jul 6

Lam Research rose more than 4% in Monday premarket, leading S&P 500 gainers after Morgan Stanley lifted price targets on Lam, Applied Materials and KLA.
The chip rally broadened as the SOXX semiconductor ETF climbed more than 2.5% after a two-day, 11% slide last week; Intel gained 2.5%, AMD 3% and ASML 4% after Bernstein raised its target to $2,300.
DataDog fell more than 2% after Bernstein cut the stock to market-perform, citing tough upcoming earnings comparisons and signs non-AI growth may be peaking.
Outside semis, T-Mobile added more than 1.5% after Bank of America upgraded it to buy, arguing the stock's 20%-plus drop from its February 2026 high had become overdone.
The moves extend an early-session rebound in beaten-down tech, following a separate premarket surge in memory-chip shares after Goldman Sachs flagged the sector as oversold.

Sources

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Memory Chip Sector Rallies Pre-Market; DRAM ETF Up 7% on Goldman Sachs 'Buy-the-Dip' Signal

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Memory Chip Stocks Rally 88% in 2026: How AI Demand and New Contracts Are Reshaping the DRAM ETF Landscape

Overview

On July 6, 2026, U.S. stock index futures rose, led by technology stocks, with the Nasdaq 100, S&P 500, and Dow Jones all posting gains. This surge marked a strong rebound for memory chip stocks and the Roundhill Memory ETF (DRAM), following a period of sharp declines. The rally was driven by renewed investor confidence in the memory sector, as DRAM offers targeted exposure to companies involved in memory technologies. The report highlights how this rebound reflects a 'buy-the-dip' sentiment, showing that investors see long-term opportunity in the memory chip market despite recent volatility.

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