# AI Memory & Storage — US Stocks
**Query:** US AI memory and storage stocks (MU, WDC, STX, SNDK, NTAP, PSTG and peers) compared by forward P/E, revenue growth YoY, 6-month return and % from 52-week high
**Data as of:** 2026-10-09

Memory and storage hardware is where the AI build-out converts into hard demand: HBM and DDR5 DRAM, enterprise NAND/SSD, and high-capacity nearline HDDs. This screen ranks the US-listed names most levered to that theme by six-month return, with valuation, growth, drawdown and trend context.

### Why this basket

AI memory & storage hardware sits at the narrowest point of the AI supply chain: every training and inference cluster needs high-bandwidth DRAM (HBM), high-capacity NAND/SSD tiers, and dense nearline HDD arrays to feed increasingly token-hungry models. It is a **toll-collector** position — storage is consumed regardless of which model or hyperscaler wins.

This screen ranks US-listed names with direct exposure — memory makers (**MU**, **SNDK**), HDD/SSD vendors (**WDC**, **STX**), storage systems and data platforms (**NTAP**, **P** / Everpure, **NTNX**), AI server integrators (**DELL**, **HPE**, **SMCI**), and key memory-interface/controller peers (**MRVL**, **ALAB**, **CRDO**, **SIMO**, **MRAM**, **RMBS**) — by six-month price performance.

The cycle is in an up-leg: DRAM/NAND pricing has firmed on HBM scarcity and shrinking legacy supply, while HDD makers are supply-disciplined against a step-change in nearline demand. The key risks are cyclical — memory is a commodity business that can over-build — and valuation has already re-rated many of these names. The spread between the highest-multiple AI-memory pure plays and the lowest-multiple makers (see Forward P/E) is the most informative dimension below.

### AI Memory & Storage Hardware — US-Listed Stocks (ranked by 6M return)

| Symbol | Company Name | Sector | Industry | Market Cap | Forward P/E | Revenue Growth YoY (%) | 6M Return (%) | 1M Return (%) | 1Y Return (%) | From 52W High (%) | From 150D SMA (%) | Momentum Potential | Comments |
| --- | --- | --- | --- | --- | --- | --- | --- | --- | --- | --- | --- | --- | --- |
| DELL | Dell Technologies Inc. | Information Technology | Computer Hardware | 3.726e+11 | 26.21 | 18.80% | 231.18% | 15.68% | 260.74% | -0.40% | 60.95% | 98.8 | AI server and storage systems integration is the most direct beneficiary of hyperscaler capex, and Dell has converted that into a top-tier trend — but hardware integration is a low-margin business, so the multiple rests on AI backlog durability rather than chip-like economics. |
| HPE | Hewlett Packard Enterprise Comp | Information Technology | Communication Equipment | 9.752e+10 | 18.2 | 13.84% | 196.75% | 33.37% | 186.75% | 0.00% | 70.06% | 83.8 | Server plus Alletra/GreenLake storage makes HPE a levered play on enterprise AI refresh; the pending Juniper networking deal is the swing factor on both margin mix and integration risk. |
| P | Everpure, Inc. | Information Technology | Computer Hardware | 5.148e+10 | 50.28 | 15.61% | 153.51% | 64.18% | 65.87% | 0.00% | 83.15% | 94.1 | Now trading as Everpure after the Pure Storage rebrand — one of the few all-software-modeled storage platforms, with subscription capacity pricing that mints recurring revenue. The rich multiple prices a long runway, leaving little room for a single soft quarter. |
| NTAP | NetApp, Inc. | Information Technology | Software - Infrastructure | 4.658e+10 | 23.68 | 5.37% | 147.96% | 29.17% | 97.22% | 0.00% | 53.43% | 98.6 | The purest large-cap enterprise storage play; ONTAP's installed base and cloud-tiering services make it sticky and cash-generative. The catch is that NetApp is largely a mature-growth asset riding the sector's re-rating rather than a direct HBM/NAND pricing beneficiary. |
| MU | Micron Technology, Inc. | Information Technology | Semiconductors | 1.162e+12 | 6.65 | 48.85% | 144.69% | 5.28% | 424.07% | -15.21% | 27.00% | 99 | The only US-listed pure-play DRAM/NAND maker and the cheapest large-cap name in this basket despite the strongest revenue growth — the market is clearly applying commodity-cycle skepticism. HBM share gains are the catalyst; a supply-induced pricing downturn is the risk. |
| ALAB | Astera Labs, Inc. | Information Technology | Semiconductors | 5.937e+10 | 53.52 | 115.13% | 129.59% | 20.27% | 56.00% | -29.15% | 23.39% | 98.5 | Astera's connectivity silicon (PCIe/CXL retimers, fabric switches) is what actually stitches GPUs to memory at rack scale, so it sells into the same AI budget as HBM without the commodity pricing exposure — but growth is hyper-concentrated in a handful of hyperscaler programs. |
| NTNX | Nutanix, Inc. | Information Technology | Software - Infrastructure | 2.019e+10 | 34.05 | 18.11% | 116.88% | 14.08% | 4.89% | 0.00% | 39.88% | 94.1 | Hyperconverged infrastructure software with a hybrid-cloud bridge; less a memory-cycle story than a storage-software re-rating, and the sharp 1-year underperformance versus its 6-month gain implies a violent sentiment reversal rather than steady compounding. |
| MRVL | Marvell Technology, Inc. | Information Technology | Semiconductors | 2.474e+11 | 44.05 | 42.09% | 114.30% | 21.29% | 198.23% | -13.00% | 36.41% | 97 | Custom AI silicon, storage controllers and interconnect give Marvell exposure to both compute and storage paths — a diversified AI toll road, though customer concentration in custom ASICs cuts both ways if a hyperscaler in-sources. |
| SIMO | Silicon Motion Technology Corpo | Information Technology | Semiconductors | 8.948e+09 | 16.63 | 10.21% | 109.12% | -0.51% | 185.04% | -21.67% | 12.25% | 68.4 | Taiwan-based NAND flash controller designer and the laggard in this basket's momentum — controllers are a volume business tied to SSD unit demand, and it lacks the HBM optionality that drives peers' multiples. |
| SNDK | Sandisk Corporation - Common Stock When-Issued | Information Technology | Computer Hardware | 2.286e+11 | 5.98 | 10.39% | 85.71% | -6.54% | 1099.44% | -32.26% | 12.08% | 91.9 | The pure-play NAND flash spin-out, and the basket's lowest forward multiple despite extraordinary trailing returns — the market is treating NAND pricing strength as cyclical rather than structural. Enterprise SSD demand tied to AI inference is the bull case; flash oversupply is the ever-present risk. |
| CRDO | Credo Technology Group Holding | Information Technology | Semiconductors | 4.07e+10 | 23.74 | 205.68% | 81.08% | 35.08% | 45.46% | -28.42% | 10.75% | 98.8 | Active electrical cables and SerDes connectivity for AI clusters; fastest revenue growth in the basket by far, but the valuation assumes hyperscaler interconnect demand keeps compounding uninterrupted. |
| INTC | Intel Corporation | Information Technology | Semiconductors | 5.535e+11 | 51.32 | -0.47% | 67.84% | 4.37% | 179.72% | -25.71% | 9.40% | 38.2 | Not a memory name per se, but included as a US-listed peer: Intel's foundry build-out and advanced packaging ambitions intersect with the memory supply chain, and the premium multiple on thin growth reflects turnaround optionality rather than current fundamentals. |
| SMCI | Super Micro Computer, Inc. | Information Technology | Computer Hardware | 2.75e+10 | 7.86 | 46.59% | 65.70% | 11.97% | -28.67% | -27.81% | 27.86% | 98 | AI server and DLC rack integrator with the basket's lowest forward multiple — the cheapness reflects a margin-thin, working-capital-heavy model and history of volatility around hyperscaler order lumpiness. |
| MRAM | Everspin Technologies, Inc. | Information Technology | Semiconductors | 4.006e+08 | 34.03 | 9.52% | 60.33% | 3.26% | 43.29% | -62.62% | -9.72% | 14.1 | Micro-cap MRAM specialist — the only magnetic persistent-memory pure play here. Niche but strategically interesting for embedded/automotive; tiny float and thin liquidity make it a speculative, not core, holding. |
| STX | Seagate Technology Holdings PLC | Information Technology | Computer Hardware | 1.78e+11 | 14.14 | 38.86% | 55.86% | -9.13% | 251.07% | -28.43% | 2.67% | 90.4 | Seagate's HAMR ramp is the crux: it keeps the HDD cost-per-terabyte curve falling exactly as nearline capacity demand from AI data lakes explodes. High sensitivity to hyperscaler order timing and to a still-elevated leverage profile. |
| QCOM | QUALCOMM Incorporated | Information Technology | Semiconductors | 1.874e+11 | 17.2 | 13.66% | 38.30% | -0.78% | 6.79% | -30.09% | 1.28% | 76.6 | More AI-edge and handset than memory-infrastructure, so it sits at the periphery of this theme — but its memory-adjacent content growth and licensing revenue give it a tangential read on device-level demand. |
| WDC | Western Digital Corporation | Information Technology | Computer Hardware | 1.487e+11 | 12.51 | 50.70% | 15.75% | -13.81% | 228.45% | -46.76% | -13.60% | 92.5 | The HDD nearline franchise is a structural AI-storage beneficiary, yet it is by far the weakest 6-month performer here — the divergence from Seagate despite similar exposure suggests company-specific execution or portfolio concerns are weighing on sentiment. |
| AVGO | Broadcom Inc. | Information Technology | Semiconductors | 1.726e+12 | 18.51 | 23.87% | -2.36% | 0.38% | 5.42% | -24.92% | -4.52% | 97.1 | Custom AI accelerators and networking are the growth engine, but it is included here mainly as a hyperscaler-demand proxy for the memory/storage ecosystem rather than a memory supplier itself. |
| RMBS | Rambus, Inc. | Information Technology | Semiconductors | 1.166e+10 | 29.07 | 27.13% | -2.69% | 25.92% | 8.09% | -37.03% | -2.65% | 83.7 | Memory-interface IP and DDR5 chips (register clock drivers, data buffers) sit directly in the DRAM upgrade cycle with royalty-heavy margins — a high-quality niche, but small and increasingly tied to the pace of DDR5/MRDIMM adoption. |

---
_Generated by Relaxfolio — investment opportunity discovery. A research starting point, not investment advice._