Reddit's AI Memory Trade Is Quietly Going Parabolic — $MU and $SNDK Are Just the Beginning

While most of Reddit was busy arguing about whether the TACO trade is real, a quieter crowd in the investing subs was going absolutely feral over Melius Research's initiation of $MU and $SNDK — slapping a $700 price target on Micron (vs. a $524 close) and a jaw-dropping $1,350 on SanDisk (vs. $1,070). The call: memory is core infrastructure for the AI buildout, not a cyclical afterthought. Both stocks jumped 5.6% and 8% respectively on the news.

The timing is almost too good. Five of the Mag-7 report earnings this week, and Reddit's options chatter is laser-focused on whether Amazon, Microsoft, and Alphabet confirm that AI capex is still accelerating. Supply chain signals from ASML, Intel, and TSMC all say yes — and with Anthropic and OpenAI collectively running at a $70B annualized revenue rate, the infrastructure thesis isn't slowing down.

Memory was the last unsexy corner of the AI trade. Melius just made it very, very sexy.