Micron, SanDisk Plunge to Become Nasdaq-100's Cheapest AI Stocks This Month

According to Benzinga, Micron Technology (MU) and SanDisk (SNDK) have plunged this month to become among the cheapest AI stocks in the Nasdaq-100 index, with forward price-to-earnings ratios of 6.2x and 8.1x, respectively. Micron dropped 23.3% in July and is heading toward its worst monthly performance since June 2022, while SanDisk fell 35.7% in July, including a 24.7% decline this week, marking its worst weekly performance since March 2025.

Despite the recent declines, both stocks remain significantly higher year-to-date, with Micron up 208% and SanDisk up 504% since the start of 2026.