Overview
- SanDisk fell roughly 5–8% on Friday, dipping below $740 after a steep year-to-date and 12‑month surge, with profit-taking and sector supply concerns cited.
- Citi’s Asiya Merchant raised her SNDK price target to $875 from $750 and reaffirmed a Buy rating.
- Micron’s latest results highlighted aggressive capex plans and stated NAND demand should exceed supply for the foreseeable future, influencing memory-sector sentiment.
- SanDisk reported Q4 revenue of $3.025 billion, up 61% year over year, with data-center revenue rising 64% sequentially on hyperscaler SSD qualifications converting to sales.
- Management is locking in supply with more than $1 billion in long-term fab commitments through 2030–2035 and is moving to one‑to‑five‑year customer contracts, with one agreement already signed.