January 2026 is in the books, and, as always, there were winners and losers in the stock market during the month.
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As a group, the big winners during January were the stocks of memory and data-storage companies, which led all gains. Among the memory stocks, SanDisk (SNDK) registered the biggest gain, rising an astounding 175% on demand tied to artificial intelligence (AI).
Other big winners in the same group were Western Digital (WDC), which was the second-best performer in the S&P 500 index with a 62% increase, and memory-chip giant Micron Technology (MU), which saw its stock rise 57% during the month. An outlier among the top stocks in January was pharmaceutical concern Moderna (MRNA), whose share price surged 54% on positive results for a skin cancer treatment.
January’s Losers
Stocks that were among the worst performers in January included health insurer Humana (HUM), whose stock declined 24% during the month. HUM stock got knocked lower after the Trump administration proposed keeping Medicare rates flat in 2027.
Other January losers included software names, with Intuit’s (INTU) shares falling 23% as investors dumped software stocks over fears about AI’s negative impacts. ServiceNow (NOW), another software name, also plunged 23% over the same concerns and disappointing financial results. Salesforce (CRM) saw its stock pullback 19% in January as investors increasingly see software as an AI casualty.
Is MU Stock a Buy?
Micron’s stock has a consensus Strong Buy rating among 28 Wall Street analysts. That rating is based on 26 Buy and two Hold recommendations issued in the last three months. The average MU price target of $377.81 implies 11.64% downside from current levels.
