SNDK at $1,360—would you still dare to buy the dip?
From $2,350 to $1,360: the whole internet is saying the AI storage bubble has burst. But with 24-hour volume surging, RSI oversold, and earnings on October 29—is this a golden buying opportunity or a trapdoor?
First, the surface picture: bad news is piling on, but the price hasn’t collapsed through support.
U.S. CPI is 3.7%, PPI is hot, 10-year Treasury yields are above 5%, and the Fed could raise rates at the end of October. Chip and memory stocks are being pummeled across the board, with Asian memory stocks leading the losses in the KOSPI and Nikkei, while CXMT’s breakthrough dealt another blow. SNDK has been hammered from its June ATH of around $2,350 down to $1,360, a drawdown of 40%+.
Everyone is saying: the AI storage story is over.
But look at the tape: around $1,360, the price hasn’t kept collapsing. The 24-hour lows of $1,278–$1,325 were bought back up, volume is huge, and OI is around 250 million+ USDT.
First: the market is punishing the valuation, not NAND demand.
SNDK isn’t DRAM; it’s NAND. AI inference is memory-centric, and demand for data-center SSDs/NAND is exploding. NBM has long-term contracts worth around $93.9 billion, plus $16.5 billion in guarantees. S&P just upgraded its rating to BBB.
You can doubt the chart, but contracts and ratings aren’t playing along with the story.
Second: analyst price targets are $2,170–$2,275, and earnings are on October 29.
TTM revenue is around $20.25 billion, up 175% YoY. Net income is around $11.4 billion. Some reports put data-center business growth at 437% YoY. The current P/E is around 19, and the forward P/E is around 6.5.
Analysts are broadly Buy-rated, with an average price target of $2,170–$2,275—upside of 50%+ from $1,360. The next earnings date is October 29. Q1 FY27 guidance: revenue of $10.3–$10.8B, EPS of $44–$46.
The market is worried about rate hikes, competition, and the cycle.
But if earnings deliver, what will the shorts have to push back with?
Too scared to hold before earnings, then kicking themselves afterward.
Third: technically oversold, but the long-term trend isn’t dead.
Daily RSI is around 30–34, near or in oversold territory. The price is below the MA7 at around $1,467, as well as the MA20/25 and MA50. The short-term picture is bearish, and MACD is still bearish. But the long-term SMA200, around $1,200–$1,240, is still in play—this is a deep pullback in a major bull market, not the end of the trend.
Key levels:
Support: $1,350 → $1,280–$1,278 → $1,250–$1,200 (long-term structure)
Resistance: $1,380–$1,400 → $1,450–$1,470 → $1,500–$1,550
Pivot: $1,350–$1,360; price is testing support right now.
24-hour volatility is around 10%, and trading volume is active. The stock community is divided: some see a pullback to $1,270 or even lower; others are waiting for a rebound to $1,800+.
A break below $1,350 isn’t a crash—it’s a second chance to get in. But only if you still have ammo.
From $2,350 to $1,360: the whole internet is saying the AI storage bubble has burst. But with 24-hour volume surging, RSI oversold, and earnings on October 29—is this a golden buying opportunity or a trapdoor?
First, the surface picture: bad news is piling on, but the price hasn’t collapsed through support.
U.S. CPI is 3.7%, PPI is hot, 10-year Treasury yields are above 5%, and the Fed could raise rates at the end of October. Chip and memory stocks are being pummeled across the board, with Asian memory stocks leading the losses in the KOSPI and Nikkei, while CXMT’s breakthrough dealt another blow. SNDK has been hammered from its June ATH of around $2,350 down to $1,360, a drawdown of 40%+.
Everyone is saying: the AI storage story is over.
But look at the tape: around $1,360, the price hasn’t kept collapsing. The 24-hour lows of $1,278–$1,325 were bought back up, volume is huge, and OI is around 250 million+ USDT.
First: the market is punishing the valuation, not NAND demand.
SNDK isn’t DRAM; it’s NAND. AI inference is memory-centric, and demand for data-center SSDs/NAND is exploding. NBM has long-term contracts worth around $93.9 billion, plus $16.5 billion in guarantees. S&P just upgraded its rating to BBB.
You can doubt the chart, but contracts and ratings aren’t playing along with the story.
Second: analyst price targets are $2,170–$2,275, and earnings are on October 29.
TTM revenue is around $20.25 billion, up 175% YoY. Net income is around $11.4 billion. Some reports put data-center business growth at 437% YoY. The current P/E is around 19, and the forward P/E is around 6.5.
Analysts are broadly Buy-rated, with an average price target of $2,170–$2,275—upside of 50%+ from $1,360. The next earnings date is October 29. Q1 FY27 guidance: revenue of $10.3–$10.8B, EPS of $44–$46.
The market is worried about rate hikes, competition, and the cycle.
But if earnings deliver, what will the shorts have to push back with?
Too scared to hold before earnings, then kicking themselves afterward.
Third: technically oversold, but the long-term trend isn’t dead.
Daily RSI is around 30–34, near or in oversold territory. The price is below the MA7 at around $1,467, as well as the MA20/25 and MA50. The short-term picture is bearish, and MACD is still bearish. But the long-term SMA200, around $1,200–$1,240, is still in play—this is a deep pullback in a major bull market, not the end of the trend.
Key levels:
Support: $1,350 → $1,280–$1,278 → $1,250–$1,200 (long-term structure)
Resistance: $1,380–$1,400 → $1,450–$1,470 → $1,500–$1,550
Pivot: $1,350–$1,360; price is testing support right now.
24-hour volatility is around 10%, and trading volume is active. The stock community is divided: some see a pullback to $1,270 or even lower; others are waiting for a rebound to $1,800+.
A break below $1,350 isn’t a crash—it’s a second chance to get in. But only if you still have ammo.