Micron and SanDisk offer different memory-chip risk profiles as AI demand lifts MU, SNDKV

Micron Technology (MU) and SanDisk (SNDKV) have surged as AI data center spending drives demand for memory chips, with shares up about 770% and 4,000%, respectively, over the past year as of May 13, 2026, according to a Motley Fool analysis. The report said Micron offers a more diversified, blue-chip exposure to the memory cycle, with products spanning NAND, DRAM and solid-state drives. Its forward price-to-earnings ratio is about 13, suggesting the stock already reflects some risk that AI-related demand could cool. SanDisk is a higher-risk, higher-reward NAND-focused investment. Its shares trade at about 24 times expected earnings, while sell-side analysts forecast triple-digit revenue growth in 2027 and profit growth of more than 160%. The analysis said investors may hold both stocks because Micron offers defensive diversification while SanDisk provides greater upside if NAND demand continues to accelerate.