All articles tagged with #memory stocks
Cantor Fitzgerald raised price targets for SanDisk (SNDK) to $2,900 and Micron (MU) to $1,500, with analyst CJ Muse saying the AI memory trade has only reached mid-innings as demand tightness and AI hardware demand boost memory names; MU and SNDK rallied about 11% and 7% midday, while other banks boosted targets and most analysts still rate MU/SNDK buys.
Broadcom’s forecast for AI chip revenue in Q3 came in below expectations and left its FY2027 outlook unchanged, triggering a broader dip in memory stocks MU, SNDK, and WDC as investors reassessed AI demand. Micron led the declines after Broadcom’s results, while retail traders on StockTwits swung MU to bullish as they bought the dip, though sentiment for SNDK and WDC remained bearish. Demand for memory chips remains strong with much of output already booked for the next two years.
U.S. equities rose Monday, led by semiconductor and memory-name gains (NVIDIA, Micron, Qualcomm) after an opening decline, with the S&P 500 and Nasdaq 100 rebounding as analysts lift 2026 targets on strong earnings, while investors shrug off U.S.-Iran tensions.
SanDisk shares jumped as investors bet on a shift from software to AI-driven hardware, extending a strong 2026 breakout with roughly 159% YTD gains and about 1,184% over the past year. Analysts highlight a favorable valuation (about 8.8x forward earnings) and a forecast that revenue could hit $15.2 billion in 2026 with operating income near $7 billion. The rally follows volatility from a tech selloff and short-seller cautions, with competition from Samsung cited as a ongoing risk in the NAND market.