Jensen Huang says NVIDIA could sell a lot more chips if only supply existed, and this unique constraint carries over to every memory and storage stock in the AI chain. Here’s what it takes for NVIDIA, Micron and SanDisk…
The AI works on a simple chain. Computing power needs memory, and memory needs storage. This channel explains 2026 for chip stocks.
Micron technology (NASDAQ:MU | MU Price Prediction) is up 255.25% year to date. SanDisk (NASDAQ: SNDK) gained 585.46%, and Nvidia (NASDAQ:NVDA) added 27.67%.
NVIDIA CEO Jensen Huang said in August that “AI generates profitable tokens” and that his company could sell more “if we had more compute.” Below I explain how each action could achieve a round goal in 2027.
Wall Street already sees big upside potential and estimates continue to rise
| Action | Price | Street Target | Bold target | Necessary gain |
|---|---|---|---|---|
| Nvidia | $237.54 | $328.72 | $350 | 47% |
| Micron | $1,013.30 | $1,535.57 | $1,750 | 73% |
| SanDisk | $1,627.15 | $2,173 | $2,500 | 54% |
Consensus targets already mean an increase of 38%, 52% and 34%, respectively. All three companies have active beat sequences.
NVIDIA’s road to $350 runs through Vera Rubin
NVIDIA is trading at 15x FY2028 EPS estimates of $15.6951. At $350, that multiple rises to 22x, which is exactly in line with the S&P 500’s 21-23x, for a company targeting revenue growth of around 70%. This EPS estimate was $12.7102 90 days ago. NVIDIA posted its fifth consecutive record high in August, with EPS of $2.22 versus consensus of $2.09.
- Vera Rubin has purchase orders from “all major hyperscaler, cloud AI and systems OEMs.”
- Investments by the five largest hyperscalers are expected to reach $1.3 trillion in 2027.
- Supply caps forecasts. “Our demand is much higher than that,” Huang said.
Micron trades at 6x earnings with HBM largely sold out
Micron is trading at 6x FY2027 EPS estimates of $176.6868, which rose from $150.0075 over 90 days. At $1,750, the multiple would only be 10x. Micron’s fourth-quarter EPS of $33.42 beat the estimate of $31.35, its eighth consecutive record.
- Most HBM 2027 volumes are sold out at prices “well above 2026 prices.”
- More than 75% of 2027 production is committed under strategic customer agreements.
- Micron is building the first custom HBM4E with NVIDIA for its next-generation GPUs.
SanDisk only needs 12 times earnings to reach $2,500
SanDisk is trading at 8x FY2027 EPS estimates of $213.9030, up from $193.7201 90 days ago. At $2,500, it would trade at 12x, which is still well below the market. Fourth-quarter EPS of $39.25 beat the estimate of $33.28, its fifth consecutive beat.
Recent history shows these gains are achievable
NVIDIA returned 1,032.06% over five years. Micron gained 431.17% in 12 months and SanDisk rose 1,242.87%.
Repeating such large moves becomes more difficult at current market caps, but the gains needed here are much smaller (we reverse engineered what the biggest tech winners looked like early on in a free playbook).
My thoughts on $350, $1750 and $2500
Memory pricing is cyclical, NVIDIA’s outlook excludes Chinese data center computing, and a Micron union in Taiwan just won permission to strike.
Still, rising estimates, beat streaks, and sold-out supply give all three a credible path forward. Investors shouldn’t count on such returns every year, but this is how NVIDIA, Micron and SanDisk could achieve outsized gains in 2027.
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Gn bussni
