"Micron reported earnings this week and highlighted aggressive capital expenditure plans alongside long lead times for new production capacity, impacting Sandisk's stock performance."
"Sandisk's most recent quarter made the bull case hard to dismiss, with revenue of $3.025 billion exceeding expectations and up 61% year-over-year."
"The datacenter segment grew 76% year-over-year as hyperscalers accelerated enterprise SSD deployments, indicating strong demand for AI storage solutions."
Sandisk stock decreased by 5% after closing at $772.09, influenced by Micron Technology's earnings and profit-taking following a 1,200% gain over the past year. Micron's aggressive capital expenditure plans raised supply concerns in the NAND flash market. Despite the pullback, Sandisk's recent quarter showed strong revenue growth of $3.025 billion, up 61% year-over-year, and a significant EPS beat. The datacenter segment, crucial for AI storage, grew 76% year-over-year, driven by increased enterprise SSD deployments from hyperscalers.
Read at 24/7 Wall St.
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