**Sandisk Shares Drop Amid Supply Concerns**
Sandisk (NASDAQ: SNDK) saw its stock price fall by 4% on Monday, a reaction to new investor concerns regarding potential competition from Chinese chip suppliers. This decline comes on the heels of Jefferies doubling its price target for Sandisk to $3,000 per share last week, suggesting strong support for the company’s future.
The apprehension among investors is fueled by reports that Apple (NASDAQ: AAPL) is seeking U.S. government permission to purchase memory chips from Chinese supplier CXMT instead of from Sandisk and Micron Technology (NASDAQ: MU). Although CXMT specializes in DRAM, the move could signal a shift toward cheaper alternatives that might affect Sandisk’s market share, particularly in NAND flash memory, if it becomes a trend. Despite these concerns, Mizuho analyst Jordan Klein notes that demand for Sandisk’s products remains strong, with ongoing supply shortages projected until at least 2028.
5 Stocks Our Experts Predict Could Double In the Next Year
By submitting your email, you'll also get a free pivot & flow membership. A free daily market overview. You can unsubscribe at any time.
