$SNDK getting a Buy reiteration from Goldman with a $2,200 target. Their thesis: targets look beatable, capital returns are solid, tech roadmap has upside, and NAND supply isn't flooding the market anytime soon.
Goldman thinks the gains stick. Fair enough—NAND pricing has been behaving, and if supply discipline holds while AI infrastructure keeps demanding storage, the setup works. But $2,200 implies a lot of execution and no macro slip-ups.
Watch NAND spot prices and capex discipline across the industry. If competitors start adding capacity aggressively or enterprise spending softens, that target gets harder to justify. For now, the fundamental case is intact.
Goldman thinks the gains stick. Fair enough—NAND pricing has been behaving, and if supply discipline holds while AI infrastructure keeps demanding storage, the setup works. But $2,200 implies a lot of execution and no macro slip-ups.
Watch NAND spot prices and capex discipline across the industry. If competitors start adding capacity aggressively or enterprise spending softens, that target gets harder to justify. For now, the fundamental case is intact.