Micron Falls 5%, SanDisk Drops 7%: Are Memory Stocks Finally Taking a Breather After a Historic Run?
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Micron Technology and SanDisk stocks fell 5% and 7% respectively due to profit-taking after a significant run-up driven by AI data center demand. Despite the pullback, both companies have strong forward guidance and analyst support.
Micron Technology and SanDisk stocks declined 5% and 7% respectively in midday trading due to profit-taking in the memory sector. The drop follows a significant run-up driven by demand for DRAM and NAND flash from AI data centers. Micron's fiscal Q1 2026 results were impressive, with revenue rising 57% year over year and non-GAAP EPS of $4.78. The company set Q2 FY26 revenue guidance of $18.70 billion with non-GAAP EPS of $8.42. SanDisk's stock has surged 272% year-to-date, and its Q3 FY26 guidance calls for revenue of $4.4 billion to $4.8 billion. Analysts broadly agree on a bullish outlook for both stocks, with 38 of 43 analysts rating Micron as a Buy or Strong Buy.
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