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Barchart
Barchart
Patrick Sanders

Sandisk's Pullback Looks Like a Buying Opportunity

SanDisk SNDK Memory Elon Musk

Do memory stocks have a problem? Despite reporting massive revenue growth and rising profits, many memory stocks are on a downswing. Sandisk (SNDK) was the most recent victim, as the stock fell more than 6% following impressive fiscal fourth-quarter results that included a 103% sequential increase in data-center revenue.

The pullback was even more remarkable in that Sandisk and Kioxia, a subsidiary of Kioxia Holdings (KXIAY), just announced the release of an improved QLC 3D flash memory technology. The companies say the 10th-generation product offers 60% higher bit density than the previous generation. Enhancements also improve power efficiency during data transfers and address power and cooling challenges in artificial intelligence-capable data centers and cloud infrastructure.

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