This article first appeared on GuruFocus.
Sandisk (NASDAQ:SNDK), Seagate (NASDAQ:STX) and Western Digital (NASDAQ:WDC) are getting a stronger AI demand call from Mizuho, which raised price targets on all 3 memory and storage names.
The firm lifted Sandisk’s target to $2,200 from $1,825, Seagate’s to $1,090 from $875, and Western Digital’s to $685 from $550, while keeping Outperform ratings on all 3. Mizuho said AI is still driving a supply and demand imbalance in memory, with DRAM demand expected to rise 27% in 2026 and 24% in 2027, while NAND demand is seen growing 18% in both years.
The firm also pointed to stronger AI ASIC momentum, including a possible jump in Google TPU shipments to more than 35 million in 2028, up sharply from about 4.3 million in 2026. That could benefit Broadcom (NASDAQ:AVGO), Micron (NASDAQ:MU), Sandisk and storage names tied to AI infrastructure buildouts.
For investors, the message is that AI demand is no longer just about GPUs. Memory, storage and custom silicon could keep seeing upside as data center workloads scale.
