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Nvidia (NASDAQ: NVDA) has long been considered the industry standard for artificial intelligence (AI) computing stocks. Since 2023, it has been an amazing performer and has delivered strong, market-crushing returns for shareholders. However, 2026 hasn’t been so kind.
Nvidia’s stock is up about 12% this year, which isn’t a bad return, but it’s only beating the S&P 500 (SNPINDEX: ^GSPC) by a few percentage points (the index is up about 8% so far). Investors are used to much stronger double-digit percentage returns from Nvidia, leaving many investors disappointed in its 2026 results, especially when other stocks like Micron (NASDAQ: MU) and Sandisk (NASDAQ: SNDK) have crushed Nvidia and the market so far in 2026.
Missed Nvidia in 2009? This Rare Signal Is Flashing Again. In 2009, a “Double Down” signal flashed for a little-known chipmaker called Nvidia. For the first time in years, that same “Total Conviction” signal is flashing for a company 1/100th the size of Nvidia. Continue »
Micron is up 228% in 2026, while Sandisk is up nearly 600%. Those are returns that Nvidia investors can only dream about, but could that continue throughout 2026? Let’s take a look.
Micron and Sandisk are red hot
Both Micron and Sandisk are involved in the memory chip sector. Although Micron makes both NAND and DRAM memory, Sandisk only makes NAND. NAND demand from an AI perspective mostly comes from solid-state drives (SSDs), which are used for long-term data storage in data centers. DRAM is used in computing chips as these devices need to rapidly pull from a memory bank to process computations quickly. Demand far outpaces supply for both memory chip types, causing prices to soar. This effect has led to a boom in both stocks, and that growth may not slow down for a while.
This could allow both stocks’ returns to extend through 2026 and well into 2027 and beyond. Both companies (and their peers) are racing to build up more supply, but demand from data centers could still outpace new supply, leading to sustained memory chip constraints. That would bode well for both businesses and could lead them to outperform Nvidia for the rest of the year. But that doesn’t mean investors should race out to swap Nvidia shares for Sandisk and Micron stock, either.
Nvidia could be set up for a strong second half of 2026
Nvidia may have had a slow start to 2026, but it may not stay that way for long. There has really been nothing to be disappointed about with Nvidia, besides its lackluster returns. During its latest earnings announcement, it beat expectations and revenue rose an outstanding 85% year over year. It gave a forecast for $91 billion in revenue for the next quarter, which could result in more than a 100% year-over-year growth if Nvidia beats expectations by a similar amount as it typically does.
