Western Digital's stock soared 9.46% during intraday trading on Thursday, marking a significant upward movement for the disk-drive maker.

The surge appears to be part of a broader rally in memory and storage stocks. This movement follows positive sentiment in the sector after Micron Technology's Chief Financial Officer Mark Murphy downplayed concerns about intense competition in the high-bandwidth memory chip space during the previous session.

Other companies in the memory sector also saw gains, with flash memory product manufacturer SanDisk rising 6.5% and fellow disk-drive maker Seagate Technology advancing. The positive commentary from Micron's leadership has bolstered investor confidence across the memory chip and storage hardware landscape.