Sandisk Stock Drops Amid Reports of Apple Shifting Memory Chip Suppliers
Sandisk (NASDAQ: SNDK) stock fell by 4% following reports that Apple is seeking to bypass purchases from Sandisk and Micron in favor of Chinese supplier CXMT. Although Jefferies had raised its price target for Sandisk earlier, the potential shift in supply chain dynamics has caused investor concern.
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Topics: Apple CXMT memory chips Sandisk supply chain