Core Viewpoint - SanDisk Corp (SNDK.US) has received a significant boost with Benchmark raising its target price from $70 to $85 while maintaining a "Buy" rating, following the announcement of a price increase of over 10% for all products in new quotes and orders [1] Financial Performance - For Q4 of fiscal year 2025, SanDisk reported revenue of $1.901 billion, reflecting a quarter-over-quarter growth of 12% and a year-over-year growth of 8% [1] - The total revenue for the fiscal year reached $7.355 billion, marking a 10% increase compared to fiscal year 2024 [1] - Growth was primarily driven by moderate single-digit increases in storage capacity shipments and average selling prices (ASP) [1] Business Structure - The data center business significantly contributed to overall shipments, accounting for over 12% of total shipments [1] - Cloud business revenue reached $213 million, showing a year-over-year growth of 25% [1] - Client business revenue was $1.103 billion, while consumer business revenue stood at $585 million, indicating collaborative growth across all segments [1] Company Overview - SanDisk Corporation is a leading player in NAND flash memory technology, focusing on the research, manufacturing, and sales of data storage devices and solutions based on NAND flash [1] - The company's operations span across the United States, Europe, the Middle East, Africa, Asia, and other global regions [1]

Core Insights - SK Hynix has completed the development of a 321-layer 2Tb QLC NAND flash product and has officially started mass production [2][3] - The new QLC NAND product features a significant increase in data transfer speed, with a 100% improvement compared to the previous generation, and enhancements in write performance by 56% and read performance by 18% [3] Product Development - NAND flash memory is a non-volatile storage semiconductor that retains data even when power is off, categorized by the number of bits stored per cell, with QLC storing 4 bits per cell [2] - The new product doubles the capacity of existing products, addressing the complexity of memory management that comes with larger capacities [2] - To enhance performance, the number of independently operating units (Planes) within the NAND has been increased from 4 to 6, allowing for more parallel operations [2] Market Strategy - SK Hynix plans to initially implement the 321-layer NAND in PC SSDs, with plans to expand to data centers and smartphones [3] - The company aims to achieve double the integration level through packaging technology that stacks 32 NANDs, targeting the AI server market with high-capacity eSSD solutions [3] - The company’s NAND development head emphasized that the mass production of this product significantly strengthens their large-capacity product lineup while ensuring price competitiveness [3]