Tuesday's First Moves: NVDA PT Hike, MU & SNDK Cuts, UAL Expansion

Mizuho cut expectations for AI memory leaders Micron (MU) and SanDisk (SNDK), and also trimmed views for AI equipment makers Applied Materials (AMAT) and Lam Research (LRCX). While the firm reduced price targets, Diane King Hall said Mizuho remains a bull across the complex, implying the near-term downgrade is more about modeling conservatism than a fundamental demand break. Overall, the changes are likely to weigh modestly on sentiment for the group rather than derail the longer-term AI capex/memory outlook.