Tech Weekly: CES Announcements Reignite Memory Shortage Concerns
We also break down next week’s catalysts to watch to help you prepare for the week ahead.
In this article:
This week’s tech sector performance
Tech markets spent the first full week of 2026 responding to headlines out of the Consumer Electronics Show (CES) in Las Vegas, where semiconductor and artificial intelligence (AI) announcements helped drive Nasdaq Composite (INDEXNASDAQ:.IXIC) momentum. This enthusiasm pushed the index to a fresh record midweek before a bout of profit taking and renewed concerns weighed on sentiment heading into Friday (January 9).
The Nasdaq finished the week up 0.95 percent from Monday’s (January 5) open, powered by gains in memory and storage names like Micron Technology (NASDAQ:MU) and Western Digital (NASDAQ:WDC) after upbeat commentary on next-generation data infrastructure. However, the rally faded as investors rotated into defensive stocks after US President Donald Trump proposed a US$1.5 trillion “Dream Military” budget.
Labor market indicators for the week suggest a continued, gradual cooling in the American job market, supporting the case for future US Federal Reserve interest rate cuts.
North of the border, Canada’s S&P/TSX Composite Index (INDEXTSI:OSPTX) retreated after briefly hitting a record, mirroring the US market’s rotation in the second half of the week, weighed down by Venezuela oil fears.
3 tech stocks moving markets this week
1. Micron Technology (NASDAQ:MU)
Shares of Micron Technology rose 0.12 percent on Monday after the company provided an investor update confirming strong demand for its high-bandwidth memory, critical for AI GPUs, through 2026.
Comments on storage shortages at CES amplified gains on Tuesday, driving an 8.25 percent advance for Micron that day alongside additional memory stocks. The company saw a 6.14 percent weekly gain.
2. Lockheed Martin (NYSE:LMT)
Lockheed Martin jumped by as much as 2.06 percent on Thursday (January 8) after Trump’s Truth Social post prompted an investor rotation to defensive tech stocks.
3. SanDisk (NASDAQ:SNDK)
Sandisk, a company focused on NAND flash, SSDs and memory cards for consumer and AI data center use, jumped as much as 27.57 percent on Tuesday as comments at CES from NVIDIA (NASDAQ:NVDA) and Samsung Electronics (KRX:005930,OTCPL:SSNLF) executives reignited concerns of forthcoming price increases for NAND flash memory.
SanDisk, Lockheed Martin and Micron Technology performance, January 5 to 9, 2026.
Chart via Google Finance.
Top tech news of the week
Huang also announced that NVIDIA’s new AI server racks will not require outside cooling, a revelation that caused the stocks of cooling equipment suppliers, such as Modine Manufacturing (NYSE:MOD) and Johnson Controls International (NYSE:JCI), to fall.Tech ETF performance
Tech exchange-traded funds (ETFs) track baskets of major tech stocks, meaning their performance helps investors gauge the overall performance of the niches they cover.
This week, the iShares Semiconductor ETF (NASDAQ:SOXX) advanced by 2.47 percent, while the Invesco PHLX Semiconductor ETF (NASDAQ:SOXQ) saw a gain of 1.45 percent.
The VanEck Semiconductor ETF (NASDAQ:SMH) also increased by 1.98 percent.
Tech news to watch next week
Next week will bring bank earnings, starting with JPMorgan Chase (NYSE:JPM) on January 12, and Bank of America (NYSE:BAC) on January 15. January 15 will also bring the latest quarterly results from Taiwan Semiconductor Manufacturing Company (NYSE:TSM).
US producer price index data will hit on January 14, testing Fed interest rate cut bets, while Micron is set to break ground on its US$100 billion New York mega-fab on January 16.
Securities Disclosure: I, Meagen Seatter, hold no direct investment interest in any company mentioned in this article.
