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Everyone’s Talking About These Stocks. Here’s What I See.

NVIDIA, Micron, and SanDisk are dominating the AI trade in 2026, but each stock tells a completely different story about what it takes to beat Wall Street's targets over the next 12 months.

By Vandita Jadeja
Published September 2, 2026, 10:45am ET · 3 min read

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A detailed close-up of a computer circuit board under dramatic blue and magenta lighting. A dark square microchip in the center has the letters 'AI' printed in white. Surrounding the chip are numerous tiny electronic components, including resistors and capacitors, and intricate metallic traces on the dark blue-purple board.
As AI technology advances, specialized chips like this one are at the forefront of innovation, impacting the future of the semiconductor industry and companies like Nvidia. © Quality Stock Arts / Shutterstock.com

Memory and AI compute stocks have been the loudest trade of 2026, and three names keep dominating the conversation: NVIDIA, Micron, and SanDisk. All three are riding the same wave, but the setups look different. Let me walk through what it would take for each to punch through Wall Street’s consensus over the next 12 months.

NVIDIA’s Path to $350

NVIDIA (NASDAQ:NVDA | NVDA Price Prediction) closed at $220.78 on August 31, up 18.52% year to date and 26.92% over one year. Wall Street’s consensus target is $323.42. A round $350 target would sit modestly above that.

On FY28 EPS consensus of $13.13, $350 implies roughly 27x forward earnings, hardly stretched for a company that just posted $96 billion in Q2 revenue and guided $108 billion, plus or minus 2% for Q3.

CEO Jensen Huang told investors “customers’ forecasts point to our growth doubling next year” even as NVIDIA remains supply constrained. FY28 revenue is guided to grow approximately 70%, with hyperscaler CapEx pointing toward $1.3 trillion in 2027.

FY27 EPS estimates have drifted up from $8.92 ninety days ago to $9.05 today, with zero downward revisions in the past 30 days. NVIDIA has also strung together five straight EPS beats.

NVDA price target

Micron’s Case for $1,600

Micron Technology (NASDAQ:MU) has been the year’s most explosive semi story, up 236.12% year to date to $958.73. Consensus target is $1,513.41. A $1,600 bull target is roughly 67% above spot. Against FY27 EPS consensus of $155.03, that is only about 10x forward earnings.

An infographic analyzing Micron (MU) stock, titled 'Can It Hit $1,600 in 2027?'. The top features a line graph displaying MU's stock performance from 2023 to August 2026, reaching $958.73, with a projected arrow pointing towards a '$1,600 BOLD TARGET' for 2027. A Wall Street's One Year Price Target of $1,513.41 is also indicated. Below, two bar charts show 'Growth Estimates (FY27 Consensus)': Revenue Estimates are FY26 at $129.7B and FY27 at $240.3B (+85%), and EPS Estimates are FY26 at $73.40 and FY27 at $155.03 (+111%). A quote from Sanjay Mehrotra, CEO, is present. Five bullet points list 'CATALYSTS FOR $1,600', including AI-Driven Demand and Margin Expansion. A section titled 'IT'S HAPPENED BEFORE' shows past annual returns: 2026 YTD +236%, 2025 +60%, and 2021 +57%. Three warning-icon bullet points under 'RISKS TO WATCH' mention Memory Cyclicality and Valuation. The infographic concludes with 'THE BOTTOM LINE' stating a verdict of $1,600 (+67%) as ambitious but possible. The overall design uses a dark gray background with green and light gray elements.
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Fiscal Q3 revenue jumped 346% year over year to $41.5 billion, gross margin hit 84.9%, and Q4 is guided to $50 billion with $31 EPS. CEO Sanjay Mehrotra said “DRAM and NAND industry demand continues to significantly exceed industry supply” and expects tight conditions to persist beyond calendar 2027.

Sixteen Strategic Customer Agreements lock in roughly $100 billion of minimum revenue. FY27 EPS estimates have climbed from $102.72 ninety days ago. Micron has beaten estimates seven quarters in a row.

MU price target

SanDisk’s Route to $2,500

SanDisk (NASDAQ:SNDK) trades at $1,566.70, up 560% year to date. Consensus target is $2,125.09. A round $2,500 target implies about 60% upside and roughly 12x FY27 EPS consensus of $214.10.

Fiscal Q4 revenue rose 372% year over year to $8.97 billion, gross margin reached 84.6%, and Q1 FY27 is guided to $10.3 to $10.8 billion with $44 to $46 EPS.

CEO David Goeckeler said “demand from our customers is growing faster than our supply” and expects bits to remain on allocation beyond calendar year 2027. Data center exited FY26 at 38% of bits, up from 12% a year earlier.

New Business Model agreements now total $93.9 billion in minimum revenue. FY27 EPS consensus has climbed from $175.38 ninety days ago.

SNDK price target

Bottom Line on These Three Targets

For NVIDIA to hit $350, Micron $1,600, and SanDisk $2,500, the AI infrastructure cycle needs to run hot through 2027. Memory pricing has to hold, hyperscaler CapEx has to land near NVIDIA’s $1.3 trillion projection, and estimate revisions need to keep pointing higher.

The chipmakers are only one slice of that spend, though: the power, cooling, and networking suppliers behind the data centers are the other half, and we rounded up seven of them in a free report.

Risks are real: NVIDIA excludes China data center revenue from its outlook, memory pricing is cyclical, and valuations already reflect optimism. Returns like these should not be expected every year, but the blueprint is on the table.

Contact [email protected] for any questions or corrections.

Vandita Jadeja

Vandita Jadeja is a financial copywriter who loves to read and write about stocks. She believes in buying and holding for long term gains. Her knowledge of words and numbers helps her write clear stock analysis. She has contributed to several publications, including the Joy Wallet, Benzinga, The Motley Fool and InvestorPlace.

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