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SanDisk 2x ETFs were down over 20% premarket despite the memory giant's 437% YoY data center revenue surge. Cautious guidance was to blame.
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Sandisk stock has declined 11% over three days amid investor panic over Chinese DRAM company CXMT's progress in memory chip technology. However, analysts argue the sell-off is unwarranted since CXMT makes DRAM while Sandisk makes NAND memory—different technologies with limited direct competition. CXMT's products are likely years away from mass production and may not be suitable for AI data centers.
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