"Micron posted $23.86 billion in revenue in the most recent quarter with $12.2 in non-GAAP EPS. This is a 196% year-over-year increase due to the sheer amount of demand. Micron blew past every guidance figure given in Q1, and it now expects $33.5 billion in Q3 with gross margin approaching 81%."
"Micron's order books are reportedly stretching into 2027, and the HBM total addressable market is projected to reach $100 billion by 2028, two years ahead of prior estimates, growing at a ~40% CAGR."
"SanDisk CEO David Goeckeler noted that data centers will become the largest NAND market in 2026 for the first time, with customers seeking multiyear supply commitments rather than quarterly negotiations."
"Memory is notoriously cyclical. SanDisk has rallied ~298% year-to-date and ~2,715% over the past year. Micron has risen ~83% from its Q1 filing price. Stocks that move this fast can correct just as fast."
Micron Technology and SanDisk both hold Buy ratings from analysts, with Micron showing a stronger risk-reward profile. The memory supercycle is accelerating due to AI infrastructure demand, impacting DRAM and NAND economics. Micron reported $23.86 billion in revenue and a 196% year-over-year increase in EPS. Its order books extend to 2027, with a projected HBM market of $100 billion by 2028. SanDisk, a pure-play NAND flash company, is also benefiting from structural shifts in memory sales, but both companies face cyclical risks in the market.
Read at 24/7 Wall St.
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