The AI trade isn't just chips that think.


It's chips that remember.
SanDisk. Up 594% in 2026.
Spun out of Western Digital last year. Almost nobody was watching.
NAND flash memory is in structural shortage.
Every AI data center needs it.
Supply isn't catching up until 2027 at the earliest.
Morgan Stanley. Bank of America. Both raising targets.
The obvious trade is rarely the best trade.
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