Skip to navigationSkip to main contentSkip to right columnADVERTISEMENTDavid MoadelTue, August 4, 2026 at 4:52 PM GMT+2 5 min readQuick ReadSanDisk's datacenter revenue surged 645% and Micron's jumped 346% YoY, helping to fuel today's 8% and 6% rallies after both stocks fell sharply last month.RBC Capital initiated SK Hynix at Outperform with a $200 target as Seagate posted record fiscal 2026 free cash flow of $3.1 billion.SanDisk and SK Hynix unveiled the first High Bandwidth Flash industry standard, a blueprint that could expand the AI memory addressable market across chip vendors.Act now: the analyst who called NVIDIA in 2010 just named his top 10 AI stocks — and Micron Technology didn't make the cut. Grab the names FREE today.Memory and storage stocks are surging Tuesday morning, with SanDisk (NASDAQ:SNDK) leading a broad rebound across the group. SanDisk stock is up 8% to $1,393. Micron Technology shares are up 6% to $880, and SK Hynix shares are climbing 4% to $148.thinkstockThe rally reaches well beyond the leaders. Western Digital (NASDAQ:WDC) shares are rising 3% to $542, Seagate Technology (NASDAQ:STX) shares are advancing 1% to $842, and the Roundhill Memory ETF is up 5% to $54. Meanwhile, the NASDAQ 100 is layering a broad risk-on bid onto the semiconductor complex.The immediate catalyst is a joint announcement from SanDisk and SK Hynix. The two companies released the first industry standard for High Bandwidth Flash (HBF) through the Open Compute Project, an open UCIe-based blueprint that uses high-speed NAND flash to bridge fast-but-small HBM and slower, high-capacity SSDs. The framework could let AI memory hierarchies operate across multiple chip vendors, expanding the addressable market for flash suppliers.Wall Street is stacking bullish calls on top of the news. RBC Capital's Srini Pajjuri initiated SK Hynix stock at an Outperform rating with a $200 price target, citing a memory upcycle through 2027. Stifel rates SK Hynix shares Buy with a $240 target, calling DRAM vital to AI hardware, while William Blair initiated at Outperform, noting tight supply has roughly tripled AI memory prices.Act now: the analyst who called NVIDIA in 2010 just named his top 10 AI stocks — and Micron Technology didn't make the cut. Grab the names FREE today.The fundamentals back the bullish tone. Micron's most recent quarter delivered revenue of $41.46 billion, up 345.7% year over year (YoY), with non-GAAP gross margin of 84.9%. SanDisk's datacenter segment posted revenue of $1.47 billion, up 645% YoY, evidence that NAND flash is moving from commodity status to an AI-critical asset. Micron CEO Sanjay Mehrotra, commenting on the quarter, stated that "Micron's record fiscal Q3 financial results and even stronger outlook for Q4 reflect the strategic value of memory in the AI era."Terms and Privacy PolicyEU DSA contactPrivacy & Cookie SettingsMore Info