Sandisk poised for strong growth after Micron's earnings beat

Micron Technology posted fiscal 2026 third-quarter earnings that exceeded expectations and indicated more than 20% sequential growth for the upcoming quarter. The strong performance highlighted ongoing demand for memory chips used in artificial-intelligence infrastructure.

Investors are also focusing on Sandisk, whose NAND flash products are similarly tied to AI workloads. In the comparable period, Sandisk recorded 251% year-over-year revenue growth, outpacing Micron's 196% growth, and posted 97% sequential growth versus Micron's 75% in the prior quarter.

Sandisk's market valuation has risen, with its forward price-to-earnings ratio increasing to 32.3 from 19.3 a year earlier, reflecting higher growth expectations. Micron's recent disclosure of multi-year strategic customer agreements suggests a shift away from a purely cyclical memory market, and analysts anticipate Sandisk may report comparable contracts in its August earnings release.