Should You Forget Micron and Buy These 3 Memory Stocks Instead?
Micron has been on a tear, but these three memory stocks look more promising.
Micron Technology has recently become a prominent investment story, with its memory chips in high demand and a stock price up nearly 350% over the past year. However, there are three other memory stocks that may prove to be more advantageous for investors. SK Hynix, a premier memory chipmaker, has secured multiyear customer agreements, which could lead to sustained growth. In Q2, SK Hynix experienced a 257% year-over-year revenue increase, more than doubling Micron's growth rate.
Another contender is Sandisk, which has witnessed an impressive 800% surge in its share price over the past year. The upcoming earnings report from Sandisk, expected at the end of October, may reignite a renewed rally. The company anticipates reaching $10.8 billion in revenue for fiscal 2027, indicating a 20.4% sequential growth. Sandisk's relationships with key customers will contribute to its revenue expansion beyond fiscal 2027.
Astera Labs, a relatively smaller memory stock, specializes in rack-scale artificial intelligence (AI) infrastructure, which is crucial for AI data centers. The company's sales increased by 27% sequentially in Q2, more than doubling compared to Micron's growth rate. Astera Labs expects to reach $550 million in sales by the midpoint of fiscal 2026, representing a 40.2% sequential boost.
With its shares outperforming the S&P 500 and doubling year-to-date, Astera Labs could reignite a growth rally if its fiscal 2026 third-quarter results meet expectations.
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