$Seagate Technology PLC(STX)$ results confirm we’re in a supply-constrained, AI-driven upcycle. What stands out to me is the discipline — no capacity expansion despite strong demand, which reinforces pricing power. The sharp EPS re-rating shows the market is still underestimating how tight this cycle can get.
That’s why the read-through to $SanDisk Corp.(SNDK)$ matters. Different tech, same demand driver — hyperscaler AI capex. With $1,100 largely priced in, my year-end target is $1,200–$1,300, depending on whether the $48 cycle EPS gets revised higher.
The key catalyst is LTA prepayments. If SanDisk locks in multi-year contracts, valuation can shift toward $1,500. Silence from SK Hynix and $Micron Technology(MU)$ likely reflects ongoing negotiations.
$Roundhill Memory ETF(DRAM)$
$CSOP SK Hynix Daily (2x) Leveraged Product(07709)$
$CSOP Samsung Electronics Daily (2x) Leveraged Product(07747)$
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