SanDisk’s upbeat long-term forecast boosted sentiment for AI-driven earnings, lifting Asian memory chip stocks. Kioxia rose up to 8.7% in Tokyo, while SK Hynix gained 6.5% in Seoul. The Bloomberg Asia Semiconductor Index climbed 1.6%, heading for a fifth straight day of gains. SanDisk expects 15% to 20% annual revenue growth between 2028 and 2030, driven by long-term pricing agreements with customers.
Aug. 14: SanDisk (SNDK.O) issued an optimistic outlook that brightened sentiment for long-term profits from the AI boom, sending Asian memory chip stocks higher. Kioxia Holdings, a SanDisk partner, rose as much as 8.7% in Tokyo, while memory maker SK Hynix climbed 6.5% in Seoul. The Bloomberg Asia Semiconductor Index gained up to 1.6%, eyeing a fifth consecutive day of gains.
SanDisk earlier said it expects revenue to grow 15% to 20% between 2028 and 2030, driven by long-term pricing agreements with customers. Andrew Jackson, head of Japan equity strategy at Ortus Advisors, wrote: “A few years ago, it was unheard of for NAND flash memory manufacturers to give such accurate long-term forecasts. Compared to more volatile spot memory prices, long-term agreements could help smooth out the classic boom/bust cycle.”
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