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Marc Guberti, The Motley Fool
Wed, July 1, 2026 astatine 10:12 AM CDT 3 min read
Micron Technology's (NASDAQ: MU) fiscal 2026 third-quarter net near nary uncertainty that the representation roar is inactive here. Not lone did the institution smash guidance, but it besides told investors to expect much than 20% sequential maturation for its fiscal 2026 4th quarter.
Naturally, investors piled into Micron aft earnings, but it's not the lone winner. Sandisk (NASDAQ: SNDK) mightiness beryllium the amended play post-Micron earnings, and investors should look with anticipation starring up to erstwhile Sandisk reveals its latest results successful August.
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Sandisk is riding the aforesaid tailwinds arsenic Micron
The wide catalyst for representation stocks is that artificial quality (AI) infrastructure requires representation chips and products truthful AI chips tin negociate ample workloads and go much efficient. Sandisk's NAND flash representation chips person go a staple for AI infrastructure, conscionable similar Micron's high-bandwidth representation chips. Those products person helped Sandisk and Micron outpace the S&P 500 by a wide borderline implicit the past year, but Sandisk really has higher fiscal maturation rates than Micron. That's a large woody aft Micron's blowout earnings, and arsenic August approaches.
Micron's fiscal 2026 Q2, which ended Feb. 26, 2026, is the astir close comparable to Sandisk's fiscal 2026 Q3 results, which ended April 3, 2026. Micron delivered 196% year-over-year gross maturation successful that quarter, compared to Sandisk's 251% year-over-year gross growth.
Sandisk's 97% sequential maturation successful its fiscal 2026 Q3 besides exceeded Micron's 75% sequential maturation successful its fiscal 2026 Q2. This script besides played retired successful the erstwhile quarter, showing an AI-fueled trend. If it continues again erstwhile Sandisk reports net successful August, the banal tin proceed to rally contempt gaining much than 600% twelvemonth to date.
Sandisk's rising valuation reflects amended fundamentals
A soaring banal terms comes with a higher valuation, but successful Sandisk's case, the fundamentals backmost it up. After the run-up, Sandisk trades astatine a 32.3 guardant P/E ratio aft having a 19.3 guardant P/E ratio little than 1 twelvemonth ago.
Micron's caller net suggest Sandisk tin support oregon adjacent transcend existent maturation complaint projections that person warranted a 32.3 guardant P/E ratio. Micron besides said successful its fiscal twelvemonth 2026 third-quarter property merchandise that it secured strategical lawsuit agreements that connection gross visibility for aggregate years.
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