Micron Technology Inc. and SanDisk Corp. rose sharply Friday even as a stronger-than-expected U.S. jobs report pushed Treasury yields higher and revived expectations for a Federal Reserve rate hike. Micron gained 5% and SanDisk 8% in early trading, while the S&P 500 slipped 0.2%. The U.S. economy added 162,000 jobs in August, nearly triple expectations for 56,000, and unemployment remained at 4.1%. July payrolls were revised from an initially reported loss of 23,000 to a gain of 21,000. Polymarket odds of a 25-basis-point September rate increase rose from about 41% before the release to above 50% afterward, reaching 53% before settling at 51%, with more than $93 million traded. The two-year Treasury yield climbed from 4.34% to as high as 4.425%, while S&P 500 and Nasdaq futures fell. Gold miners also sold off, with spot gold down about 1.4% and the VanEck Gold Miners ETF lower by roughly 1.9%. Micron and SanDisk resisted the broader rate-sensitive move because tight supplies of DRAM (a type of memory chip) and NAND flash storage are supporting prices. Dell Technologies COO Jeff Clarke said supply remains insufficient across much of the semiconductor chain, while demand for Dell servers continues to exceed supply. Susquehanna expects DRAM contract prices to rise more than 50% this quarter and NAND prices to increase about 60%. DRAM generates roughly three-quarters of Micron's revenue, while SanDisk is heavily exposed to NAND flash storage. Chris Zaccarelli of Northlight Asset Management said the stocks' resilience could indicate that optimism about AI investment and strong corporate earnings is outweighing changes in Federal Reserve policy. The rally followed a muted Thursday, when Micron rose 0.22% and SanDisk 0.10% despite a 1.4% Nasdaq gain. Chinese competitors had gained memory-market share, with CXMT doubling its DRAM revenue share to 10% from 4% a year earlier and YMTC increasing its NAND share to 14% from 9%. August CPI on Sept. 11 and the Federal Reserve's Sept. 16 decision are the next tests for the stocks and rate expectations. A hotter inflation reading could push hike expectations higher and test whether memory shares can continue to withstand higher-rate pressure.