SanDisk and Micron Lead S&P 500 Gains Amid Chip Shortage

SanDisk Inc. and Micron Technology have emerged as the top-performing stocks in the S&P 500 for 2026. As of August 28, SanDisk shares rose over 520%, while Micron shares increased by approximately 225%.

Both memory chip fabricators are benefiting from a market characterized by high demand and limited supply, which has caused chip prices to skyrocket. To mitigate the shortage, SanDisk announced the construction of a third fabrication facility. Micron is also expanding, with several production facilities currently under construction.

Despite these expansion efforts, neither company expects the new facilities to be operational until mid-2027 or later. Micron maintains a broader market position by producing both DRAM and NAND memory, while SanDisk focuses exclusively on NAND. This diversification allows Micron to potentially hedge against supply fluctuations affecting a single memory type.