Citi Sees Tight NAND Supply Through 2028, Boosting Sandisk Outlook
MU has more than doubled off its 52-week low of $165.5.
Summary
Citi's analysis of Micron's Q4 results highlights that NAND supply will remain tight through calendar year 2028, with management expecting Micron's NAND supply to grow less than industry supply growth in CY26 and industry NAND bit shipments to grow in the mid-20% range in CY27/CY28. This supply constraint, driven by durable AI-led datacenter demand, supports a positive read-through for Sandisk, leading Citi to reiterate its Buy rating and $2,100 price target on SNDK. The commentary adds forward-looking supply/demand analysis beyond the already-reported Q4 beat, providing a specific multi-year outlook that could influence positioning in both MU and SNDK. While the Q4 results themselves were already covered, this analyst note introduces new supply forecasts and a reaffirmed bullish stance on Sandisk, making it relevant for traders assessing the memory sector.
At the time of this announcement, MU was trading at $1,040.80 on NASDAQ in the Technology sector, with a market capitalization of approximately $1.2T. The 52-week trading range was $165.50 to $1,255.00. This news item was assessed with positive market sentiment and an importance score of 7 out of 10. Source: Seeking Alpha.