SanDisk sank 7% in after hours trading, compounding an earlier session drop to trade near USD 1255. This is way down from its USD 2,354 June high.
Investors dumped the stock in a panic, treating a tiny revenue guidance miss like a total collapse.
However this is definitely not the death of storage super cycle. Demand for Enterprise SSDs is still outpacing global manufacturing capacity.
SanDisk's revenue skyrocketed 372% year over year with gross margins of 84.6%.
SanDisk is an amazing stock with zero debt and is flushed with freshly authorised USD 6 billion buyback program.
SanDisk's data engine is roaring. Its pricing power remains strong. This dip is a gift to smart investors.
Disclaimer: Investing carries risk. This is not financial advice. The above content should not be regarded as an offer, recommendation, or solicitation on acquiring or disposing of any financial products, any associated discussions, comments, or posts by author or other users should not be considered as such either. It is solely for general information purpose only, which does not consider your own investment objectives, financial situations or needs. TTM assumes no responsibility or warranty for the accuracy and completeness of the information, investors should do their own research and may seek professional advice before investing.
