Overview
- SNDK fell roughly 5% to 8% on Friday, slipping below $740 after a week that saw nearly a 25% gain and a year-to-date rise of about 200%.
- Citi’s Asiya Merchant lifted her price target to $875 and kept a Buy rating, pointing to a persistent supply‑demand gap in NAND.
- Micron’s latest results highlighted long lead times and projected NAND demand outpacing supply, adding a sector overhang to the recent run-up.
- SanDisk’s latest quarter delivered $3.025 billion in revenue, up 61% year over year, and generated about $980 million in free cash flow.
- Management flagged surging data‑center needs with forecasts revised to mid‑to‑high 60% growth for 2026, reported 64% sequential data‑center revenue growth, and committed over $1 billion to secure fab capacity through 2030–2035 with multi‑year customer deals progressing.