---
title: "Citi: NAND Supply Shortage Expected to Persist Through 2028, Reiterates Buy on SANDISK CORPORATION"
type: "News"
locale: "en"
url: "https://longbridge.com/en/news/300776899.md"
description: "Citi reiterates a Buy rating on Sandisk with a $2,100 target price, citing strong AI-driven demand and tight NAND supply. Micron's recent results beat expectations, showing significant QoQ growth in revenue, shipments, and prices. Citi forecasts persistent NAND supply shortages through 2028, with industry shipment growth constrained relative to demand. This favorable supply-demand dynamic supports Sandisk's business fundamentals and visibility."
datetime: "2026-10-02T09:40:10.000Z"
locales:
  - [zh-CN](https://longbridge.com/zh-CN/news/300776899.md)
  - [en](https://longbridge.com/en/news/300776899.md)
  - [zh-HK](https://longbridge.com/zh-HK/news/300776899.md)
generator: "portal-rs"
---

# Citi: NAND Supply Shortage Expected to Persist Through 2028, Reiterates Buy on SANDISK CORPORATION

Citi published a research report stating that results and guidance from MICRON TECHNOLOGY, INC. (MU.US) beat expectations, reflecting strong artificial intelligence demand. The broker also reiterated its Buy rating on SANDISK CORPORATION (SNDK.US) , with a TP of USD2,100. The broker maintained its positive view on favorable NAND supply-demand fundamentals and improving visibility.

The broker noted that Micron's NAND revenue rose 42% QoQ, shipment volume increased about 10% QoQ, and prices climbed about 30% QoQ (versus market expectations of a 20% QoQ increase and Citi's forecast of a 34% rise), reflecting tight NAND supply. Management expects industry NAND bit shipment growth in 2026 to be in the low-20% range (around 20% to 24%), while Micron's own NAND supply growth will be below the industry level. For 2027 and 2028, industry NAND bit shipment growth is expected to be in the mid-20% range (around 23% to 27%), with supply remaining constrained over the two years. Citi believes that artificial intelligence-driven demand from data centers, including migration to more cost-effective SSDs for KV cache applications, will remain sustainable, benefiting NAND supply-demand fundamentals and supporting the case for strong business fundamentals and improved visibility for Sandisk.

### Related Stocks

- [MU.US](https://longbridge.com/en/quote/MU.US.md)
- [SNDK.US](https://longbridge.com/en/quote/SNDK.US.md)
- [MUD.US](https://longbridge.com/en/quote/MUD.US.md)
- [MULL.US](https://longbridge.com/en/quote/MULL.US.md)
- [MUU.US](https://longbridge.com/en/quote/MUU.US.md)
- [MUZ.US](https://longbridge.com/en/quote/MUZ.US.md)
- [SNDU.US](https://longbridge.com/en/quote/SNDU.US.md)
- [SNXX.US](https://longbridge.com/en/quote/SNXX.US.md)
- [SNDG.US](https://longbridge.com/en/quote/SNDG.US.md)
- [SNDQ.US](https://longbridge.com/en/quote/SNDQ.US.md)

## Related News & Research

- [Throwback to when AI demand fueled Micron's growth](https://longbridge.com/en/news/304741642.md)
- [Donald Trump's investment team sold Micron. Here's what investors should know before following the money.](https://longbridge.com/en/news/304732629.md)
- ['Not in My Book,' Says Top Investor About Micron Stock](https://longbridge.com/en/news/305184844.md)
- [Micron vs. Sandisk: The AI Memory Supercycle Is Big Enough for Both, but Here's the Better Buy.](https://longbridge.com/en/news/305255080.md)
- [Micron is rebounding. Why Goldman prefers these memory stocks.](https://longbridge.com/en/news/305161392.md)

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> **Disclaimer: This article is for reference only and does not constitute any investment advice.**