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SanDisk Sinks 11%, Seagate Falls 7%, Micron Slides 4% on Memory Supply-Glut Fears
Key takeaways
- Bank of America raised its San Disk stock price target to $2,500 with a Buy rating, a move that directly counters Morningstar's warning of a 20 to 30 percent drop ahead.
- Micron reported 346% year-over-year revenue growth, guides Q4 to $50 billion, and trades at just 7x forward earnings despite today's share-price descent.
- Act now: the analyst who called NVIDIA in 2010 just named his top 10 AI stocks — and Micron Technology didn't make the cut.
San Disk Sinks 11%, Seagate Falls 7%, Micron Slides 4% on Memory Supply-Glut Fears David Moadel Thu, July 2, 2026 at 11:02 PM GMT+7 4 min read BAC MU STX SNDK WDC Quick Read Shares of San Disk plunged 11%, Seagate slid 7%, and Micron dropped 4%, extending back-to-back losses as the memory sector trimed its extraordinary 2026 gains.
Bank of America raised its San Disk stock price target to $2,500 with a Buy rating, a move that directly counters Morningstar's warning of a 20 to 30 percent drop ahead.
Micron reported 346% year-over-year revenue growth, guides Q4 to $50 billion, and trades at just 7x forward earnings despite today's share-price descent.
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