Why Are SanDisk, Micron, and SK Hynix Stocks Rising in Premarket Today, Sept. 8?

SanDisk (SNDK) stock rose 11% after being added to the S&P 100. Analysts have a mean target of $2,125, 19% above Thursday's close of $1,792. The rally is driven by a NAND shortage expected to last until 2027, boosting data center demand. TIKR's model values the stock at $3,710, implying a 107% total return over 4.8 years.

AI infrastructure stocks SMCI, CRWV, NBIS, and VRT fell 6.1%, 5.6%, 5.3%, and 7.7% respectively, following calls from AI CEOs to slow AI development. Other AI-related stocks like MU, SNDK, AMD, NVDA, and INTC also declined. Broader market pressures, including rising oil prices and Treasury yields, contributed to the downturn. Analysts note potential risks to these companies if AI development slows.

Micron confirmed TSMC will manufacture base dies for its next-gen HBM, joining SK Hynix and Samsung in outsourcing. This shift is driven by HBM's evolution toward customer-specific solutions, with TSMC gaining influence. Citi projects 62% HBM demand growth next year, citing robust AI memory demand.

Micron Technology (MU) reported Q3 FY2026 revenue of $41.46 billion, up 346% YoY, and guided Q4 to ~$50 billion with ~86% gross margin. The company benefits from high demand for AI memory, particularly HBM, with multi-year customer agreements totaling $22 billion. Micron's stock has a 52-week range of $154.65 to $1,255.00, with a market cap of ~$1.05 trillion. Analysts have a mean target of ~$1,513, while TIKR's mid-case target is ~$1,251.

SanDisk Corp. (SNDK) shares rose 12% on Monday and 3.3% in extended trading after its inclusion in the Nasdaq-100 index and bullish analyst commentary. Evercore ISI initiated coverage with a $1,200 price target and a 'bull case' target of $2,600, while Citi raised its target to $980. Analysts cite strong demand and supply constraints in data storage, a key area for AI infrastructure. SNDK shares have surged 2,722% in the past year and are up over 300% year-to-date.

Micron Technology's stock rose from $73.82 in 2021 to $975 in 2026, turning a $10,000 investment into $130,000. The surge was driven by AI-driven demand for memory, with revenue increasing to $41.5 billion in Q3 2026. Management expects sustained growth, but the market is skeptical, trading the stock at a lower multiple.