Sandisk Shares Jumped After Micron's NAND Price Report; Another Update Expected
On June 25, Sandisk (SNDK) saw a 22% surge in its stock price despite not reporting earnings that day. The move followed Micron Technology’s (MU) fiscal Q3 report the previous evening, which revealed significant increases in NAND flash memory prices—a key product for both companies. Micron's NAND sales rose by 99% sequentially to $9.9 billion due to mid-80% price hikes and modest shipment growth. Micron is set to release another update on Wednesday, September 30, which could provide further insight into the ongoing pricing trends in the flash memory market. Sandisk’s stock has since declined from its June peak of $2,354 to around $1,688 as of this writing and dropped about 5% after OpenAI paused training on advanced AI models. Sandisk confirmed strong sequential revenue growth for Q4 but signaled slower future gains with a revised guidance. Micron’s NAND pricing data in its next report will be crucial for assessing whether the rapid price increases are slowing, which could impact Sandisk's gross margins and market performance.
Topics: memory prices Micron Technology NAND flash Sandisk stock performance