Buy the Rumor, Sell the News Hits Memory Stocks Again

Gilly87
07-06

Classic “buy the rumour, sell the news” playing out in real time.

$SanDisk Corp.(SNDK)$

A new NAND node launch was never going to override positioning and macro-driven profit-taking after a massive run. What matters more is whether AI-driven storage demand actually keeps tightening supply over the next 2–3 quarters — that’s the real supercycle test, not a single product release.

Right now this looks more like de-risking + rotation (especially after hot jobs data) than a thesis breakdown. But if DRAM/NAND pricing weakens alongside capex slowdowns, then the narrative gets stress-tested fast.

Volatility like this is usually where the conviction gap shows up.

SanDisk's $14B Buyback Fails to Impress — Why Two Straight Days of Losses After Strong Earnings?
Memory's post-earnings selloff ran a second session Thursday. SanDisk −6.81%, its $14 billion buyback no help; Western Digital −13.03% even with revenue up 44% year-over-year; SK Hynix −4.97%; the 2x SanDisk product SNXX −13.53%. The logic is plain: results are the rearview mirror, guidance sets the price, and SanDisk's cautious next quarter erased the beat. Analysts also point to hidden leverage still unwinding. Buybacks and quadrupled profit couldn't lift the stock — so who prices memory now?
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