SanDisk Stock Dips as AI Efficiency Debate Clouds Memory Demand

SanDisk (SNDK) slid about 7% after Google's TurboQuant AI compression tech raised questions about future memory demand; the stock had also fallen following a $1B investment in Nanya Technology. Bank of America’s Wamsi Mohan remains constructive on NAND demand, citing hyperscalers and AI workloads, and notes SanDisk’s move toward longer-term, higher-margin contracts that could sustain growth. He carries a Buy rating with a $900 target, while the broader Street shows a Positive tilt with a Strong Buy consensus and upside potential. The key takeaway is that near-term volatility driven by AI efficiency chatter masks a still intact longer-term NAND demand story.