Can Sandisk Catch Micron?
Key Points
Sandisk's stock price rose 559% in 2025 and is already up over 277% in 2026.
Micron's stock also soared over the past 12 months, reaching a 52-week high in mid-March.
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Sandisk (NASDAQ: SNDK) spun off from Western Digital and returned to the stock market as an independent company back in early 2025. The pure-play flash memory company had a spectacular year, finishing as the top performer in the S&P 500, rising 559%. Rival Micron Technology (NASDAQ: MU) also surged, as demand for artificial intelligence (AI) memory continued to accelerate.
Micron is one of the three most powerful memory companies in the world, with approximately a quarter of the market share in both dynamic random access memory (DRAM) and high-bandwidth memory (HBM). Sandisk has a long way to go before it catches Micron in both market share and market capitalization, but the company has real momentum.
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Sandisk's second-quarter 2026 revenue rose 31% year over year and beat its guidance range. Data center revenue also rose 64%. Revenue in the second quarter was just over $3 billion, but the company anticipates third-quarter revenue to be well over $4 billion.
Image source: The Motley Fool.
Catching Micron will be no small feat. Micron has a real advantage in that it is already the dominant player in HBM, DRAM, and NAND. Between its growth and competitive moat, it's unlikely Sandisk will catch Micron anytime soon, but that doesn't mean the company isn't worth investors' time. Analysts are undoubtedly bullish on the memory company.
Sandisk could, however, run a tight race with Micron on stock performance this year, if 2025 is any indication.
Ultimately, as data center storage demand increases exponentially in the coming years, there will be plenty of room for Sandisk to thrive and remain competitive with the bigger players like Micron.
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Catie Hogan has no position in any of the stocks mentioned. The Motley Fool has positions in and recommends Micron Technology and Western Digital. The Motley Fool has a disclosure policy.
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