Stephanie Link highlights Micron and SanDisk as undervalued after sharp declines despite strong earnings results.
Hightower Chief Investment Strategist Stephanie Link identified Micron and SanDisk as buying opportunities after both stocks fell 19% and 29%, respectively, following earnings reports. Despite blowout results, the selloff created entry points for investors, Link said during a CNBC appearance.
The S&P 500 remains 1.5% below its all-time high, while the Nasdaq has declined 5% and the Russell 2000 dropped 15%. Mega-cap tech has seen outflows as money rotates into healthcare, financials, and consumer staples, which are trading at record levels.
Prediction markets now assign a 57% probability that Micron’s stock reaches $1,320 by month-end, supporting Link’s contrarian thesis. Rival strategist Kevin Gordon, however, cautioned that rising oil prices typically drive investors toward Nvidia and Broadcom over memory names.