Micron and Sandisk Have Crushed Nvidia as the Top Artificial Intelligence (AI) Stock in 2026. Can That Continue?

Micron and Sandisk have significantly outperformed Nvidia in 2026, with Micron up 228% and Sandisk up nearly 600% compared to Nvidia's 12% gain. Both memory chip companies benefit from strong AI-driven demand for NAND and DRAM that outpaces supply. However, Nvidia remains undervalued at 23.3x forward earnings with strong growth prospects, including $1 trillion in projected AI capital expenditures next year, suggesting potential for a strong second-half rally.