Micron Gets the Headlines, But Sandisk Could Offer More Upside - Zacks Investment Research

Amid the rapid expansion of AI infrastructure, the semiconductor industry is experiencing a new wave of growth. Micron Technology, driven by its advanced high-bandwidth memory (HBM) chips, continues t... Read original →

The AI infrastructure boom is redrawing the memory chip landscape. While Micron captures headlines with HBM, SanDisk leverages NAND flash’s deep data center integration and long-term contracts to extract superior pricing amid tight supply. Technologically, HBM fuels advanced packaging demand, whereas NAND benefits from expanding AI data lakes—complementary, not competing. On compliance, escalating U.S. export controls compel SanDisk to shift capacity away from Taiwan, China and Hong Kong, China, inflating capex. Competitively, Samsung and SK Hynix may revive NAND production cuts to stabilize prices, capping SanDisk’s near-term upside. Over the next 12–24 months, Micron’s HBM3E/HBM4 ramp will widen its tech lead; if SanDisk fails to break into enterprise SSD ecosystems, its stratospheric earnings forecast—and valuation—may prove unsustainable.