Movement Alert｜Sandisk Falls 4.69% in Regular Trading, Argus Hold Rating and Storage Cycle Peak Concerns Intensify Selling Pressure

Market Focus07-16

On July 16, Sandisk declined 4.69% in regular trading, trading at $1,540.0/share, with turnover of $2.169 billion. The stock had already plunged over 10% in the prior session, with losses continuing to accumulate.

On the news front, Argus Research issued a coverage report on Sandisk with a Hold rating, sharply contrasting with bullish calls from Evercore ISI (target price $3,100) and Goldman Sachs (target price $2,200), further intensifying the bull-bear divergence. Meanwhile, concerns over the storage super-cycle peaking continued to dominate market sentiment. Goldman Sachs fund flow tracking reports showed hedge funds have been net sellers of the information technology sector for consecutive weeks.

Sector-wide selling pressure remained significant, with SK Hynix, Micron Technology, and Western Digital all declining in tandem. Within the Technology Hardware, Storage & Peripherals sector, Western Digital fell 4.35%, Seagate Technology dropped 5.32%, and Dell Technologies declined 2.13%.

(The above content is based on publicly available market information, generated by a program or algorithm, and is intended solely as a stock movement alert. It does not constitute investment advice or a basis for trading decisions.)

Disclaimer: Investing carries risk. This is not financial advice. The above content should not be regarded as an offer, recommendation, or solicitation on acquiring or disposing of any financial products, any associated discussions, comments, or posts by author or other users should not be considered as such either. It is solely for general information purpose only, which does not consider your own investment objectives, financial situations or needs. TTM assumes no responsibility or warranty for the accuracy and completeness of the information, investors should do their own research and may seek professional advice before investing.

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