Core Insights - Sandisk (SNDK) and Micron Technology (MU) are key players in the NAND flash memory market, benefiting from AI-driven data center demand and a tightening supply environment that is elevating NAND prices [1][2] Company Performance Sandisk (SNDK) - Sandisk specializes in NAND flash-based data storage solutions across various markets, including data centers and consumer products, with a strong focus on AI infrastructure [3] - The enterprise SSD business is experiencing rapid growth, with data center revenues increasing by 76% year-over-year to $440 million in the fiscal second quarter [4] - Fiscal third quarter revenues are projected between $4.4 billion and $4.8 billion, indicating a year-over-year growth of 171% at the midpoint, with non-GAAP gross margins expected between 65% and 67% [5] - The Zacks Consensus Estimate for SNDK's fiscal 2026 EPS is $27.2, reflecting a 57.2% increase over the past 30 days and an 809.7% year-over-year growth [6] Micron Technology (MU) - Micron offers a diverse range of memory and storage solutions, including DRAM and NAND, and is also involved in AI infrastructure [7] - The data center business is the largest revenue contributor, with data center NAND revenues surpassing $1 billion in the fiscal first quarter [8] - The Zacks Consensus Estimate for MU's fiscal 2026 EPS is $33.79, showing a 2.71% increase over the past 30 days and a year-over-year growth of 307.6% [11] Market Dynamics - Over the last three months, SNDK shares have surged by 200.4%, while MU shares increased by 79.8%, driven by AI infrastructure spending and a tightening NAND supply [12] - SNDK trades at a price-to-sales ratio of 4.42x compared to MU's 5.49x, indicating a relative valuation discount despite strong growth prospects [15] Conclusion - Both SNDK and MU are positioned to benefit from the AI-driven NAND upcycle, with SNDK's focused strategy and valuation discount making it a more attractive investment option at this stage [17]