Two of Wall Street’s favorite artificial intelligence trades have quietly landed in the Nasdaq 100’s bargain bin, even after triple-digit gains this year.
Micron Technology, Inc. (NASDAQ:MU) trades at 6.2 times forward earnings — what investors pay for each dollar of profit expected over the next 12 months — making it the second-cheapest stock in the index behind Strategy Inc.
• Micron Technology stock is showing exceptional strength. What’s behind MU gains?
The stock is down 23.3% month-to-date in July, on pace for its worst month since June 2022. It is still up 208% in 2026, after a run of nearly 2,000% from its 2025 lows to June highs.
Sandisk Corp. (NASDAQ:SNDK) has fallen 35.7% this month and 24.7% this week alone, its worst weekly drop since March 2025. It sits at 8.1 times forward earnings and remains up 504% year-to-date.
