Chase Gold or Storage Stocks: Which Offers Better Value?

Tiger_SG
01-27

Right now, the hottest trades in the market are clearly gold and the storage sector. But the biggest problem is: we can’t catch up — prices have moved way too fast!

Just five months ago, $SanDisk Corp.(SNDK)$ was widely seen as a legacy flash maker held back by aging products. Today, after a nearly 1,000% rally, it has become one of the best-performing S&P 500 stocks and a core AI trade.

But it’s not just retail investors who missed it, even smart money got it wrong.

The key behind-the-scenes force pushing SanDisk’s spin-off was the famous activist hedge fund Elliott Management — yet it missed most of the upside. SanDisk was spun off from Western Digital last February, largely due to Elliott’s long-term pressure.

Elliott believed the combined Western Digital + SanDisk structure created undervaluation, and that a split would unlock value. At the time, Elliott’s highest valuation expectation for SanDisk was around $20 billion, but today SanDisk’s market cap is roughly $65 billion.

Regulatory filings show Elliott held 750,000 shares of SanDisk after the spin, with a cost basis of $49.71. However, the fund fully exited before the end of September. While Elliott may have captured a rebound in September, if it had held until today, the position value would have surged from about $84 million to roughly $340 million.

Even the sharpest players on Wall Street failed to foresee this AI-driven explosion in memory-chip pricing.

Gold Extends Record Rally — Traders Start Betting on $6,000

At the same time, the global commodities market has reached a historic milestone: both $XAU/USD(XAUUSD.FOREX)$ and $Gold - main 2602(GCmain)$ have broken above the key level of $5,000 per ounce, hitting the highest prices in financial history.

After this long-standing “price ceiling” was shattered, the options market didn’t see massive profit-taking.

Instead, even more aggressive buying rushed in. Traders are piling into long-dated call options with strike prices between $5,500 and $6,000, signaling a strong market consensus that gold’s bull run may be entering its “second half.”

Micron: $24 Billion More Investment in Singapore Over 10 Years! A New NAND Fab Is Coming

$Micron Technology(MU)$announced it will invest an additional $24 billion in Singapore over the next decade, launching the construction of a brand-new NAND flash wafer fabrication plant.

This new facility will become Singapore’s first “two-story fab,” featuring roughly 700,000 square feet of cleanroom space. It is expected to begin production in H2 2028, and create around 1,600 jobs.

As AI infrastructure accelerates, demand for memory — NAND / DRAM / HBM — continues to rise. Across the industry, supply is becoming increasingly tight, even showing signs of shortage. As a key Micron base, Singapore is positioned to be a major expansion hub for the company.

Your Turn 💬

  1. What’s your take on Micron building new fabs in Singapore?

  2. Would you invest in the “all-rounder” Micron, or the fast-rising new star SanDisk?

  3. If you had to choose one: chasing memory stocks or chasing gold — which offers better value now?

  4. Or are you choosing to chase neither?

Leave your comments to win tiger coins~

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# Chase Gold Stocks or Storage: Which Offers Better Value?

Disclaimer: Investing carries risk. This is not financial advice. The above content should not be regarded as an offer, recommendation, or solicitation on acquiring or disposing of any financial products, any associated discussions, comments, or posts by author or other users should not be considered as such either. It is solely for general information purpose only, which does not consider your own investment objectives, financial situations or needs. TTM assumes no responsibility or warranty for the accuracy and completeness of the information, investors should do their own research and may seek professional advice before investing.

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Comment（26）

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  • 這是甚麼東西
    ·01-28
    TOP
    Micron's $24 billion investment in a new Singapore fab is a major strategic move to capture growth from AI-driven memory demand. Financial data shows Micron in a strong growth phase with record revenue, while SanDisk, as a newly independent entity, is navigating its post-separation path. The memory sector is experiencing strong momentum due to AI, whereas gold maintains its role as a traditional store of value with a rising price trend.
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  • 1PC
    ·01-27
    TOP
    🧠美光耗资240亿美元的新加坡晶圆厂是对人工智能基础设施的结构性押注——稳定性、供应链安全性和执行确定性。记忆现在是必不可少的，而不仅仅是循环的。SanDisk 1,000%的涨幅显示了人工智能驱动的爆炸性势头，但预期似乎有些过高。我会逢低买入美光以实现平衡和多元化，而不是追逐闪迪的飙升。⚖️黄金处于新的宏观体系中，但上行取决于流动性和地缘政治。如果被迫选择，为了病人的长期成长，我倾向于记忆。[Cool]@JC888 @Barcode @koolgal @Shyon @Shernice轩嬣 2000 @Aqa @DiAngel
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  • Mrzorro
    ·01-28
    TOP
    To choose between chasing memory stock or gold, I will choose the memory stock as it has better improvement for me, but these two kinds of stock prices are going to the peak and risky. I prefer to wait for a pullback or eyes on material companies.
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  • icycrystal
    ·01-28
    TOP
    Micron appears more reasonably priced based on forward earnings estimates, while SanDisk's current price looks very expensive.

    Micron holds a broader portfolio in both DRAM and NAND flash memory, including high-bandwidth memory (HBM) for AI servers, giving it a potentially more diversified position. SanDisk focuses almost exclusively on flash memory products.

    would probably go for Micron and if got extra [USD] [USD] [USD] would invest 8n SanDisk too [Grin] [Grin] [Grin]

    would buy gold if am loaded [Sly] [Sly] [Sly]

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  • koolgal
    ·01-28
    Gold vs Memory Stocks - Which one to choose?  Why not choose both?  My portfolio is like a barbell.  On one side I have $iShares Gold Trust(IAU)$ & $iShares MSCI Global Gold Miners ETF(RING)$.  This side is my hedge against geopolitical noise, inflation & liquidity shocks.  It is steady, anti fragile & a store of value when markets wobble.

    On the other side I have storage and Semiconductor stocks: $Micron Technology(MU)$ $SanDisk Corp.(SNDK)$ and $NVIDIA(NVDA)$.

    This side has explosive power and is riding the AI super cycle.  It is benefiting from DRAM and NAND price recovery and data center demand.  It is leveraged to the future of compute, memory and intelligence.

    This side says that I am surfing the wave of innovation and technology advances.

    Together both sides form a beautiful balance.

    Gold protects my present & calms my heart.  Storage & Semiconductor stocks build my future & ignites my future.

    @Tiger_SG @Tiger_comments @TigerStars @TigerClub @CaptainTiger

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  • Universe宇宙
    ·01-27
    was wondering that if want to chase memory stocks or chase gold stocks, which both of them are quite expensive now, then why not just chase crypto like bitcoin or ethereum which are cheaper when compare with gold and storage stock? @TigerAI can help me by giving me an answer?
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  • Shyon
    ·01-27
    Micron’s $Micron Technology(MU)$ increased investment in Singapore looks like a strong long-term move to me. Singapore offers stability, supply-chain security, and execution certainty, and memory is now essential AI infrastructure rather than a purely cyclical play. This level of capex signals confidence in sustained demand and improving pricing power.

    Between Micron and SanDisk $SanDisk Corp.(SNDK)$ , I see stability versus momentum. SanDisk’s AI-driven re-rating has been explosive, but after a near-1,000% rally, expectations are stretched. Micron feels more balanced and diversified, making it a name I’d rather accumulate on pullbacks than chase momentum.

    As for memory stocks versus gold, I’m staying selective. Gold $XAU/USD(XAUUSD.FOREX)$ is firmly in a new macro regime, but upside from here depends on liquidity and geopolitics. If forced to choose, I’d lean toward memory for long-term growth — with patience.

    @Tiger_comments @TigerClub @TigerStars @Tiger_SG

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  • BTS
    ·01-31
    在地缘政治风险和全球增长不平衡的情况下，2026年初的市场分为人工智能驱动的增长交易（半导体/内存）和防御性对冲（黄金），共识认为这两种交易的机会取决于风险承受能力和时间范围

    尽管美光科技(MU)在新加坡的晶圆厂扩建标志着NAND需求的长期看涨，但投资者对短期资本支出强度和周期时机仍持谨慎态度

    MU被视为人工智能基础设施的多元化全能核心持股，而SanDisk Corp(SNDK)是一只受存储青睐的高动能股票，但对估值和周期变化敏感

    尽管存在周期性风险，内存股仍提供与人工智能和数据中心增长相关的高上涨空间，而黄金的增长较低，但可以作为针对宏观不确定性的强大防御性对冲

    成长型投资者偏爱内存股，保守型投资者则倾向黄金；许多策略师建议两者都拥有，而不是追逐单一的拥挤交易...

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  • sloth慢慢
    ·01-28
    Definitely storage, since there are huge demands there from AI industry, especially after $英伟达(NVDA)$ released rubin, the HBM and SSD are becoming more important, since more context data needs to keep in SSD to make AI smart;
    While Gold is more related to people's emotions and political factors, which can't be lasting
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  • L.Lim
    ·01-28
    I never found it realistic when people said there were profit taking happening and whether the gold rally was ending. How could it end, when the fundamental reason for the rally, the us president, is still out and about. Just recently, the slapping of 25% tariff on South Korea and the president's comment that usd has not fallen too much, has added more pressure on the greenback, causing it to slide to 4 year lows. These all add to gold's glitter, with us dollar no longer a safe asset to hold.
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  • 北极篂
    ·01-28
    如果非要选，我会倾向于少量配置、而不是重仓追逐。存储和黄金都各自有长期逻辑，但在当前位置，最大的风险不是看错方向，而是买在情绪最拥挤的时候。至于完全不追？在这种时代，或许比“追错”更需要勇气。
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  • 北极篂
    ·01-28
    Gold is another logic. After $5,000 was broken, the options market began to bet 6,000 instead, which shows that the market is not in a hurry to cash in, but is repricing the "credibility of the currency." But the more this consensus market is, the less suitable it is for emotional pursuit.
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  • 北极篂
    ·01-28
    美光在新加坡砸下 240 亿美元，我更愿意把它看成“慢而稳”的选择。新厂 2028 年才投产，押的是 AI 需求长期化，而不是短线爆发。对投资者来说，美光的优势是确定性：规模、客户、技术路径都清晰，但缺点也很明显——它很难再走出闪迪那种级别的弹性。
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  • 北极篂
    ·01-28
    闪迪就是最典型的例子。五个月前它还被当成老化的闪存厂，分拆更多是“估值修复”的故事，结果 AI 把 NAND 的定价逻辑直接改写。连推动分拆的 Elliott 都没能拿住，这本身就说明：这已经不是传统价值投资能完全解释的行情，而是技术拐点叠加供需失衡后的再定价。错过并不丢人，问题是现在再追，风险已经完全不对称。
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  • 北极篂
    ·01-28
    现在的市场，最大的问题其实不是“看不看好”，而是根本追不上。无论是黄金还是存储股，价格都像被点燃了一样，回头一看，才发现机会已经在身后。
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  • Chrishust
    ·01-28
    1 micron’s new fabs in Singapore is to increase capacity & profits $Micron Technology(MU)$
    2. Micron is a stronger player in the memory manufacturing market
    3. Chasing gold is less at risk of oversupply in the memory market
    4. Both gold and memory are quality investments
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  • Cadi Poon
    ·01-27
    $美光科技(MU)$宣佈將追加投資240億美元在新加坡未來十年，啓動建設一個全新的NAND閃存晶圓製造廠.

    這個新工廠將成爲新加坡第一個“兩層晶圓廠”，擁有約700,000平方英尺的潔淨室空間。預計將於2028年下半年開始生產，並創造約1,600個就業崗位。

    隨着AI基礎設施的加速，對內存的需求-NAND/DRAM/HBM——繼續上升。縱觀整個行業，供應日趨緊張，甚至出現短缺跡象。作爲美光的重要基地，新加坡被定位爲該公司的主要擴張中心。

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  • TimothyX
    ·01-27
    推動閃迪分拆的關鍵幕後力量是著名的激進對衝基金埃利奧特管理公司——然而它錯過了大部分的好處。閃迪去年2月從西部數據剝離出來，很大程度上是由於埃利奧特的長期壓力。

    埃利奧特認爲，西部數據+閃迪的合併結構造成了估值被低估，而分拆將釋放價值。當時，Elliott對閃迪的最高估值預期約爲200億美元，但今天SanDisk的市值大致爲650億美元.

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  • Alubin
    ·01-28
    Based on fundamentals and track records, definitely $Micron Technology(MU)$ for a longer term and more sustainable investment.
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  • dixonhuat
    ·01-28
    For sure go towards micron rather than SanDisk. Look at their forward PE for both and compare
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