Memory stocks Micron Technology (MU), SK Hynix (SKHY), and SanDisk (SNDK) are moving in different directions in Tuesday’s pre-market trading. Micron and SK Hynix are each down about 0.5%, while SanDisk is up about 0.5% at the time of writing. The mixed move follows a strong session for the broader semiconductor sector on Monday.
The pullback comes as some of Monday’s market momentum fades. Brent crude moved back above $102 a barrel after falling more than 3% on Monday. The rebound in oil is adding some pressure to risk appetite. Meanwhile, Asian memory stocks are also showing weakness. SK Hynix turned lower in South Korea after rising as much as 2% earlier in the session. The KOSPI also gave up most of its early gain.
Markets are also waiting for President Donald Trump’s meeting with Chinese President Xi Jinping on September 24. Trade and semiconductor supply chains are expected to be among the topics discussed.
SanDisk Stock Rises on New $2,400 Price Target
SanDisk stock is moving higher despite a mixed session for memory stocks. Rosenblatt analyst Kevin Cassidy started coverage with a Buy rating and a $2,400 price target. His target implies about 36% upside from SanDisk’s September 22 closing price of $1,766.64.
Cassidy believes AI is changing the role of NAND in computing systems. He expects larger AI models and data-heavy inference to create new demand for NAND. He also sees SanDisk’s NAND technology as a way to benefit from this shift.
The analyst’s bullish view comes after SanDisk’s strong run this year. The stock has gained more than 600% in 2026, making profit-taking another factor worth watching.
Micron Heads Into September 30 Earnings
Micron is also facing a near-term test as it prepares to report its fiscal fourth-quarter results on September 30. Wall Street expects Micron to report adjusted earnings per share (EPS) of $31.27, significantly higher than the $3.03 reported in Q4 FY25. Revenue is forecast to surge more than 345% year-over-year to $50.59 billion.
Stifel analyst Brian Chin recently maintained a Buy rating and a $1,500 price target on MU. He expects Micron to post strong results, but sees some limits on near-term growth because memory shipments remain constrained. Chin expects DRAM supply growth to slow to 15% to 20% in 2027 from mid-to-high 20% growth this year. He also expects HBM4 prices per bit to double in 2027.
That means today’s decline does not point to a sudden change in the memory outlook. The stocks are coming off a strong sector rally, while the market is dealing with higher oil prices and some caution ahead of the Trump-Xi meeting.
MU, SNDK, or SKHY: Which Memory Stock Has the Most Upside?
According to TipRanks’ Stock Comparison Tool, Micron, SanDisk, and SK Hynix all currently have a Strong Buy consensus rating from Wall Street analysts.
Among the three stocks, MU has the highest average analyst price-target upside at 49.86%. SK Hynix follows with 32.21%, while SanDisk has 24.26% upside.
