Micron favored over Sandisk due to stronger AI-driven memory demand and pricing power

Micron Technology benefits more directly from AI-driven demand for high-bandwidth memory (HBM) and DRAM, where supply constraints keep prices structurally strong and durable. Sandisk, despite strong fundamentals, relies heavily on maintaining high NAND prices rather than volume growth, making it vulnerable if prices normalize or AI investment slows. The analyst suggests a strategy of going long on Micron for its AI-memory strength while shorting Sandisk to hedge against valuation and cycle risks. This reflects a cautious stance amid peak enthusiasm for Sandisk's stock.