Sandisk Jumps 7%, Western Digital Gains 4%, Micron Climbs 3% as Kospi Re-enters Bull Market
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Sandisk shares are up 7% to $1,630 in early Friday trading, with Western Digital up 4% to $505 and Micron up 3% to $978. The gains extend a Thursday session in which Sandisk jumped 14% and Micron gained 4%, while South Korea’s Kospi returned to bull market territory. Skeptics caution the move may not mark a new bull market.
Analyst Resets and Buyback
JPMorgan resumed Sandisk coverage at Overweight with a $2,250 price target; Susquehanna raised its target to $3,250, and Evercore ISI’s Amit Daryanani reiterated Outperform with a $2,800 target. Daryanani cited new multiyear customer agreements worth $93.9 billion across eight clients, including three U.S. hyperscale data center operators. Sandisk’s board also authorized an additional $14 billion share repurchase program, bringing total remaining buyback capacity to about $15.5 billion. CFO Luis Visoso said the company expects to return 100% of excess cash to shareholders after investing in the business.
Kospi Bull Market
South Korea’s Kospi has climbed more than 20% from its July low, crossing 7,000 for the first time in 15 trading days and rising over 10% in five sessions. In Friday’s Asian session, the Kospi advanced 2%, Japan’s Nikkei 225 jumped 2%, the Topix added 0.9%, and the Kosdaq gained 0.8%; Sandisk partner Kioxia also rallied in Tokyo. SK Hynix and Samsung Electronics, the world’s two largest DRAM and high-bandwidth-memory producers, anchor the Kospi’s influence on global memory sentiment. Fibonacci Asset Management Global’s Jung In Yun said he would be cautious about describing this as a completely new bull market.
What's Next
Analysts will now watch whether Sandisk sustains gains after the new price targets from JPMorgan, Susquehanna, and Evercore ISI. It remains unclear whether the Kospi’s move above 7,000 and the memory rally mark a sustainable bull market or a short-term rebound.
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Sandisk Jumps 7%, Western Digital Gains 4%, Micron Climbs 3% as Kospi Re-enters Bull Market
