Micron’s $41.46 billion revenue and 84.6% gross margin contrast with SanDisk’s $5.95 billion and reliance on Kioxia for manufacturing.
Micron Technology (NASDAQ:MU) reported Q3 FY2026 revenue of $41.46 billion, up 345.7% YoY, with GAAP gross margin at 84.6%. The company’s HBM4 shipments and $13.77 billion in Cloud Memory revenue underscore its AI-driven growth.
SanDisk (NASDAQ:SNDK), spun off from Western Digital in early 2025, posted $5.95 billion in revenue, a 251% YoY increase, but saw consumer revenue decline 10% sequentially. Its 60x trailing P/E and reliance on Kioxia for manufacturing contrast with Micron’s 22x P/E and U.S.-based fabs.
Micron’s locked-in contracts and broader product portfolio position it as the safer investment, while SanDisk’s valuation and partner dependency raise risks.