Jul. 21 at 11:24 AM
Micron's revaluation hinges on
$HBM , server
$DRAM , product portfolio upgrades, and long-term supply agreements;
SanDisk's focus is on
$NAND, enterprise-grade SSD demand, and industry supply discipline.
Both companies benefit from AI, but through different paths. In short: storage hasn't escaped its cyclical nature; AI has simply raised the peak of this cycle, extended the duration of high profits, and imbued the scarcest high-end capacity with a growth premium.