Core Insights - Marvell Technology (MRVL) and Sandisk (SNDK) are significant players in the technology infrastructure sector, benefiting from the ongoing artificial intelligence (AI) boom [1][2] Marvell Technology (MRVL) - Marvell Technology's custom AI silicon chips are gaining traction among hyperscalers, with the data center segment revenues reaching $1.52 billion in Q3 fiscal 2026, reflecting a year-over-year growth of 37.8% [3][4] - The company is experiencing rapid growth in its data center segment, driven by demand for custom XPU silicon, electro-optic interconnect products, and next-generation switches, which are essential for AI computation and networking [4] - Marvell's acquisition of Celestial AI will enhance its capabilities in the interconnect space, positioning it favorably within next-generation AI data center architectures [5] - Strategic collaborations with AWS and NVIDIA are expected to provide long-term growth opportunities, with fiscal 2026 earnings estimated at $2.84, indicating a 90% year-over-year growth [6] Sandisk (SNDK) - Sandisk is capitalizing on AI-driven data center spending, with data center revenues increasing by 26% sequentially, primarily due to demand from hyperscalers and AI training [10][12] - The company is focused on advanced storage technologies for AI workloads, with expectations that data center and AI infrastructure investments will exceed $1 trillion by 2030, creating strong demand for NAND and enterprise SSDs [11] - Sandisk's high bandwidth flash products are specifically designed for AI inference, targeting lower latency and higher bandwidth, which positions the company well in the market [13] - The Zacks Consensus Estimate for Sandisk's fiscal 2026 earnings is $12.59, reflecting a substantial year-over-year growth of 321% [14] Stock Performance and Valuation - Over the past three months, MRVL shares have increased by 4%, while SNDK shares have surged by 157.5% [15] - SNDK is trading at a forward sales multiple of 3.11X, above its median of 2.76X, while MRVL's forward sales multiple is at 7.46X, slightly higher than its median of 7.44X [16] Conclusion - Both MRVL and SNDK are benefiting from the AI wave, with SNDK currently viewed as a better investment due to its explosive earnings growth outlook, holding a Zacks Rank 1 (Strong Buy) compared to MRVL's Zacks Rank 2 (Buy) [18]

Summary of Sandisk (SNDK) 2025 Conference Call Company Overview - **Company**: Sandisk Corporation - **Industry**: Flash semiconductor storage and advanced memory - **Global Presence**: Operations in the U.S. and Asia with nearly 10,000 employees worldwide [2][2] Key Insights on the NAND Industry - **Market Size**: The NAND industry is currently valued at $65 billion and is projected to reach $100 billion by the end of the decade [6][6] - **Growth Rate**: The growth rate is expected to stabilize in the mid-teens, which is considered strong given the market size [7][7] - **R&D and Innovation**: Sandisk has a robust roadmap for NAND technology, ensuring ongoing innovation and supply capabilities [8][8] Customer Base and Market Dynamics - **Customer Profile**: Sandisk serves a diverse range of customers, from individual consumers to major technology companies [9][9] - **Brand Strength**: The Sandisk brand is recognized globally for reliability and performance [10][10] - **Changing Management Dynamics**: The management of the NAND business is evolving, focusing on matching supply with demand rather than solely driving cost reductions [41][41] AI and Data Center Market - **AI Demand**: There is a growing demand for NAND in AI model training and inference, which is expected to drive significant growth in the data center market [17][17] - **Enterprise SSD Market**: The market is bifurcating into high-performance SSDs and high-capacity SSDs, with new products being developed to meet these needs [19][19][19] - **High Bandwidth Flash**: Sandisk is exploring the use of high bandwidth flash to support AI workloads, which could provide better cost and scaling dynamics [24][24][25][25] Product Development and Future Outlook - **Stargate Product**: A new product aimed at the enterprise SSD market is in development, expected to enhance performance and capacity [19][19][82][82] - **3D Matrix Memory**: Sandisk is working on a new memory technology that promises significant capacity expansion at lower costs, with a pilot line already operational [63][63][64][64] - **Market Positioning**: Sandisk aims to increase its share in the data center market, which is currently underrepresented in its portfolio [75][75][79][79] Financial Dynamics and Management Strategy - **Profitability Focus**: The company is shifting its strategy to ensure profitability through better supply-demand matching rather than relying solely on new node introductions [46][46][55][55] - **Underutilization Strategy**: Sandisk is adopting an underutilization strategy to maintain profitability during market downturns [47][47][55][55] Conclusion - **Long-term Growth**: Sandisk is optimistic about its future growth prospects, driven by innovation in NAND technology and the increasing demand from AI and data center markets [27][27][54][54]