SanDisk Jumps 6% and Micron Gains 3.6% as Analysts Lift Targets on Memory Rally
Updated
Updated · Stocktwits · Aug 17
SanDisk Jumps 6% and Micron Gains 3.6% as Analysts Lift Targets on Memory Rally
3 articles · Updated · Stocktwits · Aug 17
Summary
SanDisk rose 6% in overnight trading and Micron added 3.6%, extending a memory-stock rebound after fresh analyst target hikes and a Micron upgrade.
RBC lifted SanDisk's target to $1,600 and Wells Fargo to $1,550, while New Street upgraded Micron to Buy with a $1,250 target, citing stronger industry economics and cash generation.
SanDisk had already surged 35.4% last week after projecting mid-to-high-teens revenue growth through fiscal 2030, higher margins and shareholder returns via buybacks and dividends.
The rally also tracked broader chip strength: the Roundhill Memory ETF climbed 4.6% and South Korea's KOSPI rose 2.4%, helped by expectations that Big Tech data-center spending will keep memory demand elevated.
Even with that demand outlook, analysts say much of the long-term AI-driven growth is already priced in, making new upgrades and execution signals key to sustaining further gains.
SanDisk and Micron have skyrocketed YTD, but are long-term contracts enough to protect these sky-high valuations if hyperscaler spending cools?
With memory stocks surging, could Google's new memory compression technology suddenly collapse the industry's trillion-dollar hardware demand projections?
Data centers may consume 70% of global memory in 2026, but will 40-week supply chain delays actually derail the AI hardware boom?