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SanDisk Trending After Nvidia CEO Jensen Huang Flags Memory As Major 'Unserved Market' With Surging Demand And Prices
Yahoo Finance· 2026-01-08 14:31
Group 1 - SanDisk Corp. shares surged 27.56% on Tuesday, making it the top performer in the S&P 500, following comments from Nvidia CEO Jensen Huang about the storage market's growing significance [1][6] - Huang described the storage market as a "completely unserved market" with tight supply, rising prices, and increasing demand driven by AI training and inference [2] - SanDisk, along with competitors like Micron Technology and Seagate Technology, has benefited from this trend, showing a similar upward trajectory in stock performance over the past couple of years [3] Group 2 - The recent rally has brought SanDisk's year-to-date gains to 42.61%, adding to a remarkable 1,150% increase since its 52-week low in April 2025 [4] - SanDisk reported $2.3 billion in revenue for its recent fiscal first quarter, reflecting a 23% year-over-year increase and a 21% rise from the previous quarter [4] - The company posted a profit of $1.22 per share, significantly higher than the previous quarter's $0.29, surpassing market expectations [5]