Today's US Stock Watch | After AI Pullback, Funds Are Eyeing Memory and Storage Again

Goldman Sachs raised its target prices for SNDK, WDC, QCOM, and AMD, while JPMorgan sees the semiconductor pullback as an opportunity. On the surface, it's institutions calling for upside, but the core is that AI data centers are still expanding—behind GPUs, memory and storage are becoming new bottlenecks.
SNDK is the most typical example: Q3 revenue was $5.95 billion, up 97% quarter-over-quarter, with data center revenue up 233% sequentially. MU is even more striking, with Q3 revenue of $41.46 billion and adjusted gross margin of 84.9%. This is not a normal cyclical rebound—it's AI reasserting pricing power for NAND, HBM, and high-end DRAM.
WDC and STX are benefiting from the recovery in data center storage, while AMD benefits from demand for CPUs and AI accelerators. The logic is: the larger the AI model, the more data it requires, and the more intensive training and inference become, putting more strain on storage, memory, and processors down the line.
However, I wouldn't recommend chasing stocks just because target prices have been raised. Stocks like SNDK and MU have already rallied sharply, and short-term pullbacks are normal. What's really worth watching is whether AI capex is slowing, whether memory prices can hold, and whether earnings guidance continues to be delivered.
My take is that the AI storage story isn't over, but the entry point shouldn't be based on emotion. Pullbacks are worth watching, but going heavy requires both earnings and prices to give the green light.
#美股 #SNDK #MU #WDC #STX #AMD #AI