US Stock Market Movement | Storage Sector Rises Collectively, Sandisk (SNDK.US) Surges Over 5%

According to Jinse Finance, on Friday, the storage sector collectively rose, with SanDisk (SNDK.US) up over 5%, Micron Technology (MU.US) and Western Digital (WDC.US) up over 3%, SK Hynix (SKHY.US) and Seagate Technology (STX.US) up over 2%. In terms of news, on Thursday, August 13 Eastern Time, SanDisk announced its long-term financial model at the 2026 Investor Day. The company presented a series of financial targets to be achieved in fiscal years 2028 through 2030, including maintaining growth in revenue at mid-to-high double digits during this period. SanDisk also addressed market concerns about bit growth, stating that the volume of bits available for sale will be adjusted based on profitability optimization needs, while also promising that after completing business investments, 100% of remaining cash will be returned to shareholders.

Goldman Sachs pointed out that SanDisk not only provided long-term financial guidance far exceeding market expectations (80% gross margin, 75% operating profit margin), but also issued a major commitment to return 100% of excess free cash flow to shareholders. Additionally, its next-generation HBF (high bandwidth flash memory) technology roadmap for AI inference brings significant upside potential to the company. Goldman Sachs reiterated its “Buy” rating for SanDisk, giving a 12-month target price of $2,200 (based on a normalized earnings per share of $110 and a price-to-earnings ratio of 20), which implies a potential upside of about 44% compared to the current share price of $1,528.