Micron shares fell as much as 5.9% and were still down 4.7% at 11:28 a.m. ET on Friday, after rival Sandisk's strong results failed to ease investor concerns about AI's future. Sandisk reported revenue up 378% year over year to $11 billion and adjusted EPS of $49.51, beating consensus, while data center revenue surged 1,682% to $4.8 billion. Its Q2 forecast also topped expectations, yet Sandisk shares fell as much as 11%, dragging down other memory chipmakers. The article notes Sandisk and Micron are up 488% and 293% over the past year, and investors increasingly worry the rally cannot last, while the Big Three memory makers tend to move together. It adds that with Micron trading at 12 times earnings, investors who believe AI still has room to run may find it an attractive opportunity.
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