Micron and Sandisk Are Up Big During the Past Year. Can the Run Continue? - Yahoo Finance

Micron and Sandisk have seen dramatic stock price increases over the past year, with returns of approximately 700% and over 3,800%, respectively, making them standout performers in the semiconductor s... Read original →

Micron and SanDisk’s surge reflects the structural reshaping of the memory stack under AI’s computational arms race. DRAM and NAND are no longer commoditized components—they’re performance bottlenecks dictating LLM training throughput, compelling Nvidia and Alphabet to adopt HBM3e and CXL architectures. This forces aggressive scaling to 1β DRAM nodes and 232-layer 3D NAND. Yet U.S. export controls on China have inflated compliance overhead and constrained fab flexibility in mainland markets. Facing Samsung and SK Hynix’s HBM lead, Micron is deepening CoWoS integration with TSMC, while Western Digital (SanDisk’s parent) targets ZNS SSDs for edge AI inference. Over the next 18 months, sustained hyperscaler capex—coupled with advanced packaging capacity ramping in Taiwan, China—could sustain pricing power. But any erosion in AI ROI will trigger a sharp inventory correction and valuation reset.