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Sandisk Corporation (NASDAQ: SNDK) reiterated to Buy with price target $68 by Stifel Nicolaus
Tuesday, Nov 29, 2011 8:25 AM ET by Lynn Gilbert
Stifel Nicolaus reiterated Sandisk Corporation (NASDAQ: SNDK) to Buy with price target
$68. Previously, Stifel Nicolaus rated Sandisk Corporation (NASDAQ: SNDK) to Buy with price target $63 on 07/18/2011, when the stock price was valued at $41.34.
Sandisk Corporation designs, manufactures, and markets flash memory storage products that are used in a wide variety of electronic systems. The company have designed flash memory storage solutions to address the storage requirements of emerging applications in the consumer electronics and industrial/communications markets. Its products are used in a number of rapidly growing consumer electronics applications, such as digital cameras, personal digital assistants, portable digital music players,digital video recorders and smart phones.
Stifel Nicolaus research focuses on all market caps, but is a leader in small- and mid-cap research. The department is staffed predominately with industry professionals from outside Wall Street. In fact, approximately 50% of its analysts have hands-on work experience in the industry that they research. Stifel Nicolaus believes industry experience, its opportunistic approach, and broad market cap coverage drive excess returns and its award-winning franchise.
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http://www.gainerstoday.com/article-92524
SNDK
SanDisk's CEO Discusses Q3 2011 Results - Earnings Call Transcript
October 21, 2011
SanDisk (SNDK) Q3 2011 Earnings Call October 20, 2011 5:00 PM ET
Operator
Good day, and welcome to SanDisk Corp.'s Fiscal Third Quarter 2011 Financial Results Conference Call. Today's conference is being recorded. At this time, I'd like to turn the conference over to Jay Iyer, Director of Investor Relations. Please go ahead, sir.
Jay Iyer
Thank you, Jay, and good afternoon, everyone. Joining us on the call today are Sanjay Mehrotra, President and CEO of SanDisk; and Judy Bruner, Executive Vice President of Administration and CFO.
Before we begin, please note that any non-GAAP financial measures discussed during this call, as defined by the SEC in Reg G, will be reconciled to the most directly comparable GAAP financial measure. That reconciliation is now available along with supplemental schedules on our website at sandisk.com/ir. In addition, during our call today, we will make forward-looking statements. Any statement that refers to expectations, projections or other characterizations of future events, including financial projections and future market conditions, is a forward-looking statement. Actual results may differ materially from those expressed in these forward-looking statements. For more information, please refer to the Risk Factors section discussed in the documents we file from time to time with the SEC, including our annual report on Form 10-K for fiscal 2010 and our subsequent quarterly reports on Form 10-Q. SanDisk assumes no obligation to update these forward-looking statements, which speak as of their respective dates.
With that, I'll turn the call over to Sanjay.
Sanjay Mehrotra
Thank you, Jay, and good afternoon, everyone. We delivered yet another record quarterly revenue driven by year-over-year growth in both our OEM and retail channels. Excellent improvements in memory cost helped deliver a very healthy gross margin. Despite the uncertainties surrounding the global macroeconomic environment, overall demand for our products continued to grow. This illustrates the secular growth trends in consumer and enterprise markets, which are driving ever-increasing demand for flash storage solutions and also highlights the benefits of our broad product portfolio and our diversified and global customers and channels.
Our mobile revenue grew nicely on a year-over-year basis from the increased sales of our embedded products, including iNAND, for mobile devices. The mobile market continues to experience robust growth in feature phones, smartphones, tablets and eReaders, and OEMs are increasingly competing by differentiating on product feature and performance attributes. Our broad array of high-performance embedded mobile products, including iNAND, iNAND Ultra, iNAND Extreme, iSSD and removable cards position us well for continued success in this evolving market. As for the tablet market, it underwent a significant shake out in the third quarter and yet, we delivered 25% year-over-year revenue growth from our retail and OEM mobile end markets combined, reflecting our strong gains in this ecosystem.
Turning to the solid-state drive business. I'm very pleased to report that our integration of Pliant Technology has gone exceedingly well. We are excited to see robust business momentum from our enterprise storage solutions group. SanDisk enterprise SSDs have been qualified at 3 out of 7 Tier 1 storage OEMs with multiple systems now shipping, contributing to strong revenue increase in the third quarter. We are deeply engaged at other OEMs and we expect to complete qualifications at several more customers in the next few months. Our differentiated products feature a proprietary, massively parallel architecture, utilizing our third-generation ASIC controller and advanced firmware. All of these features are designed to deliver very fast, predictable, data transfer and processing speeds with minimal power consumption. We expect to continue building on our early success in this business especially as we begin using our high-quality captive memory supply in our leadership products, and we believe that vertical integration will be key to long-term success in this market.
Within the PC ecosystem, innovation is unfolding in ultrabooks driving demand for NAND flash. Specifically, from a system design perspective, NAND Flash can be designed into ultrabooks either as high-capacity solid-state drives or as lower-capacity caches alongside high-capacity hard drives. Ultrabooks designs mandate a highly responsive user experience with features such as instant-on and longer battery life, packaged in an ultrathin form factor. We believe these innovations -- we believe these innovative developments bode well for significantly increased NAND flash consumption in the PC ecosystem in the years ahead. We have begun making inroads into this market with our SSDs and we have an early footing with the recent launch of one of the first SSD-only ASUS UX21 and UX31 ultrabooks with another Tier 1 OEM design win achieved already. Design activity projects at several other OEMs are underway.
Our retail channel grew year-over-year, a trend that has continued since the first quarter of 2010. The emerging markets were the primary source of year-over-year growth in the third quarter. On a sequential basis, all regions posted healthy revenue growth with APAC the strongest. Third quarter retail revenue growth benefited from a successful back-to-school season in the U.S. with strong demand for our USB flash drives and mobile cards. In September, we unveiled a broad lineup of new retail products, mostly -- most notably the 64GB SanDisk Extreme Pro SD card and SanDisk Mobile Ultra microSD card, reflecting continued innovations in our removable products category. We also introduced the SanDisk Memory Vault, a new product designed to preserve images in their original quality for up to 100 years, creating a new preservation solution category. From a fourth quarter perspective, we believe we are well-positioned with our key accounts with programs and promotions in place for the holiday season.
In manufacturing, our 24-nanometer technology continues to ramp and accounted for slightly more than 60% of our bit production in Q3. We are on track to ramp production of our 19-nanometer technology this quarter using both 2-bit-per-cell MLC as well as 3-bit-per-cell X3 memory, which we expect will sustain our cost leadership in 2012. Fab 5 ramp is going very well with yields at world-class levels, a significant achievement in the short time since the Fab 5 began production in July 2011. We expect to deliver approximately 75% captive supply bit growth this year. If you recall, we originally provided a mid-80% bit growth estimate early in 2011, and this latest forecast takes into account the impacts related to the earthquake, the subsequent supply chain disruption as well as the power outage earlier this year.
Switching to our outlook. The secular demand drivers for our business remain strong and we believe there will be a healthy industry demand -- healthy industry environment in 2012. We expect the current capacity expansion commitment within Phase I of Fab 5 to be completed by the end of January 2012 and future Phase I expansion to begin approximately 3 months later. With this capacity plan, we expect our 2012 captive bit growth rate to be somewhat higher than in 2011, and the key drivers of the 2012 bit growth will be the 19-nanometer technology transition and the wafer capacity expansion in Fab 5. We believe that this plan achieves the best balance between prudent expansion and leveraging the growth opportunities ahead of us. We also plan to continue using some portion of noncaptive supply in 2012 to maintain flexibility in our supply mix.
From a demand driver standpoint, the outlook remains very favorable. NAND flash is a key enabler of smart mobile devices such as smartphones, tablets and ultrabooks and it is increasingly used in high-performance enterprise storage and server systems. The broad and growing application opportunities for NAND flash bode well for the long-term outlook of our business.
In summary, Q3 was yet another solid quarter for SanDisk. The growth engines for NAND flash remain vibrant, and through our technology and systems expertise, we are delivering an ever-broader array of innovative storage solutions to our customers.
I will now turn over the call to Judy for her financial review.
(continued)
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http://seekingalpha.com/article/301061-sandisk-s-ceo-discusses-q3-2011-results-earnings-call-transcript?source=email_rt_article&ifp=0
SNDK
SanDisk Co. (NASDAQ: SNDK) was given a reiterated “buy” by analysts at Deutsche Bank. The analysts now have a $55.00 price target on the stock.
http://localizedusa.com/2011/10/19/analysts-ratings-reiterations-for-october-19th-aapl-abt-acpw-altr-amsg-bac-cree-csx-edu-ew-frx-fsl-gpc-ha-infn-intc-jnj-jnpr-jwn-lh-lltc-rimm-sndk-son-syk-unh-wal-wern/
SNDK
Whitney Tilson talks up xxxx, SanDisk
NEW YORK (MarketWatch) -- xxxxx +0.60% and SanDisk SNDK -1.05% are two stocks ripe for investment, said Whitney Tilson of hedge-fund firm T2 Partners LLC on Tuesday. "xxxx is one of those rare companies that the more you look at, the more you like," said Tilson, speaking at the 7th Annual New York Value Investing Congress. He also talked up SanDisk, noting that it is in an industry where significant demand is exploding, giving it pricing power. "SanDisk is cheap," he said.
http://www.marketwatch.com/story/whitney-tilson-talks-up-citibank-sandisk-2011-10-18?link=MW_latest_news
SNDK
SanDisk grows on the Apple tree
If there is anything we can be confident about in the tech sector, it's that storage will grow in Apple devices, and SanDisk will grow with it.
18 October 11 10:55, Shlomi Cohen
After the pleasant surprise of Google's (GOOG) results, all eyes will be on Apple (AAPL), which is due to release its financials today, after the close. Google managed to surprise mainly thanks to strong growth in mobile search, and if there is a company doing well almost solely from mobile Internet, that company is Apple, and so it should pull a surprise too. The end of September marked the end of Apple's final quarter, and also the last fiscal year in which it was led by Steve Jobs, and it's no coincidence that the new CEO, Tim Cook, decided on Wednesday, the day after the results, as the day on which the internal event in memory of Jobs will take place on the Apple campus.
No-one doubts that Apple will handily beat the consensus estimate of sales of almost $30 billion and earnings per share of $7.28, and the riddle that remains is, by how much? It can be assumed that, in a symbolically significant way, at the time of the Jobs memorial ceremony on Wednesday, Apple's share price will record an all-time high, even if Cook adopts Jobs's custom, and provides guidance for the December quarter below expectations. As with Jobs, no-one will take the guidance seriously, mainly because of the massive success of the launch of the new iPhone last week.
Among shares with an Israeli connection that I hold in my portfolio, the first to report will be SanDisk Corporation (Nasdaq:SNDK), on Thursday, and I expect a "Festival of the Rejoicing of the Law", appropriate to the reporting day. I have never understood why SanDisk's share price dropped to a $32 low two months ago, so I'm not impressed by the near-50% rise since then. The company is expected to report earnings per share of $1.07, and to finish the year with earnings per share of around $4.5. In other words, it has a very attractive p/e ratio of 10 at present, despite the 50% rise since the summer.
After Apple, if there is a company that is a pure play in the hot field of mobile Internet, it is SanDisk. Data storage of video, music, or any other content, whether on a handset, a tablet computer, or a thin laptop, and recently on some "cloud" servers, is done using NAND flash memory, and SanDisk is the only chip producer to specialize only in this field, and it holds most of the relevant patents.
Not long ago, there were those who said that built-in storage of 32 giga on a smartphone was above and beyond what consumers needed, the proof being that, between the iPhone 3 and the iPhone 4, Steve Jobs stuck with maximum storage of 32 giga. In the latest launch, it emerged that what stopped Jobs was not consideration of the need for greater storage, but technological/economic limitations, because one of the great surprises of the iPhone 4s was the model with 64 giga.
It is still not clear which NAND producer provided Apple with a 64 giga solution the same physical size as a 16 giga chip. According to sites reporting the dismantling of the 16 giga model, it was from Toshiba, SanDisk's partner. I am prepared to bet that SanDisk had the solution that suited Apple in the 64 giga model. The riddle will be solved by the dismantling sites, probably very soon.
If there's a single semiconductor company about which there is already a consensus that 2012 will be a growth year for it, that company is SanDisk. The growth will come from several new engines, such as the Ultrabook computers that Intel believes will replace laptops, and which will all be based on NAND. Apple will continue to prosper through new launches, among them the iPhone 5, and there is almost no doubt that with the iPad 3, scheduled for early 2012, Apple will take a step up and provide NAND storage of 128 giga, compared with 64 giga in the iPad 2.
Published by Globes [online], Israel business news - www.globes-online.com - on October 18, 2011
© Copyright of Globes Publisher Itonut (1983) Ltd. 2011
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http://www.globes.co.il/serveen/globes/docview.asp?did=1000690930&fid=4113
SNDK
Morgan Stanley Maintains Overweight Rating on SanDisk
By Joe Young
Benzinga Staff Writer
October 18, 2011 7:31 AM
Symbols: SNDK
A report from Morgan Stanley reiterates its Overweight rating on SanDisk (NASDAQ: SNDK).
In the report, Morgan Stanley writes, “We expect in-line 3Q/4Q on stable OEM NAND demand for smartphones/tablets and disciplined supply additions. Longer-term, SNDK looks well positioned to benefit from SSD adoption in ultrabooks and enterprise storage."
SNDK closed yesterday at $45.97.
Sterne Agee Analysts Reiterate a “Buy” Rating on SanDisk (SNDK)
Posted by LUSA Staff on Oct 17th, 2011 // No Comments
SanDisk (NASDAQ: SNDK)‘s stock had its “buy” rating reaffirmed by equities research analysts at Sterne Agee in a research note issued to investors on Monday. The analysts currently have a $65.00 price target on the stock.
Separately, analysts at Bank of America Merrill Lynch raised their price target on shares of SanDisk to $60.00 in a research note to investors on Thursday. Analysts at RBC Capital (NYSE: RY) initiated coverage on shares of SanDisk in a research note to investors on Wednesday, October 12nd. They set a “top pick” rating and a $66.00 price target on the stock. Also, analysts at Morgan Stanley (NYSE: MS) reiterated an “overweight” rating on shares of SanDisk in a research note to investors on Wednesday, October 5th.
SanDisk Corporation (SanDisk) is engaged in designing, developing and manufacturing data storage solutions in a range of form factors using the flash memory, controller and firmware technologies. The Company’s solutions include removable cards, embedded products, universal serial bus (USB) drives, digital media players, wafers and components. The removable card products are used in a range of consumer electronics devices, such as mobile phones, digital cameras, gaming devices and laptop computers. Its embedded flash products are used in mobile phones, navigation devices, gaming systems, imaging devices and computing platforms. For computing platforms, it provides high-speed, high-capacity storage solutions known as solid-state drives (SSDs), that can be used in hard disk drives in a variety of computing devices.
Shares of SanDisk traded up 0.79% during mid-day trading on Monday, hitting $47.16. SanDisk has a 52 week low of $32.24 and a 52 week high of $53.61. The stock’s 50-day moving average is $38.58 and its 200-day moving average is $42.8. The company has a market cap of $11.282 billion and a price-to-earnings ratio of 8.82.
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http://localizedusa.com/2011/10/17/sterne-agee-analysts-reiterate-a-buy-rating-on-sandisk-sndk/
SNDK
SanDisk (SNDK) Share Price Target Raised to $60.00 by Bank of America Merrill Lynch Analysts
Posted by LUSA Staff on Oct 13th, 2011
Equities research analysts at Bank of America Merrill Lynch raised their price target on shares of SanDisk (NASDAQ: SNDK) to $60.00 in a research issued note to investors on Thursday.
Separately, analysts at RBC Capital (NYSE: RY) initiated coverage on shares of SanDisk in a research note to investors on Wednesday. They set a “top pick” rating and a $66.00 price target on the stock. Analysts at Morgan Stanley (NYSE: MS) reiterated an “overweight” rating on shares of SanDisk in a research note to investors on Wednesday, October 5th. Also, analysts at Oppenheimer (NYSE: OPY) reiterated an “outperform” rating on shares of SanDisk in a research note to investors on Monday, October 3rd.
SanDisk Corporation (SanDisk) is engaged in designing, developing and manufacturing data storage solutions in a range of form factors using the flash memory, controller and firmware technologies. The Company’s solutions include removable cards, embedded products, universal serial bus (USB) drives, digital media players, wafers and components. The removable card products are used in a range of consumer electronics devices, such as mobile phones, digital cameras, gaming devices and laptop computers. Its embedded flash products are used in mobile phones, navigation devices, gaming systems, imaging devices and computing platforms. For computing platforms, it provides high-speed, high-capacity storage solutions known as solid-state drives (SSDs), that can be used in hard disk drives in a variety of computing devices.
Shares of SanDisk traded up 3.53% during mid-day trading on Thursday, hitting $46.02. SanDisk has a 52 week low of $32.24 and a 52 week high of $53.61. The stock’s 50-day moving average is $40.13 and its 200-day moving average is $42.78. The company has a market cap of $11.009 billion and a price-to-earnings ratio of 8.38.
RELATEDLATESTPOPULARSUBSCRIBE
RBC Capital (RY) Analysts Now Covering SanDisk (SNDK) Stock
Morgan Stanley (MS) Analysts Reiterate a "Overweight" Rating on SanDisk (SNDK)
SanDisk (SNDK) Shares Given a "Outperform" Rating by Oppenheimer (OPY) Analysts
SanDisk (SNDK) Given "Neutral" Rating by Zacks Investment Research Analysts
Avian Analysts Upgrade SanDisk (SNDK) Shares to "Positive"
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http://localizedusa.com/2011/10/13/sandisk-sndk-share-price-target-raised-to-60-00-by-bank-of-america-merrill-lynch-analysts/
SNDK
SanDisk (NASDAQ:SNDK): RBC Capital Mkts initiated coverage of this company with a rating of Top Pick and a price target of $66. About the company: SanDisk Corporation supplies flash data storage products. The Company designs, manufactures, and markets industry-standard, solid-state data, digital imaging, and audio storage products using its patented, high-density flash memory and controller technology.
SNDK
Good sign for SNDK:
Quote:
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Apple Drops Toshiba for SanDisk in New iPods: Apple quietly announced a new iPod Nano media player during its Tuesday press conference. The new compact player isn’t spectacularly different than its predecessor, with the exception of its innards. A report at iFixit (via 9 to 5 Mac) found that the Toshiba-made flash memory storage used in previous iPod Nanos had been replaced by flash drives made by SanDisk (NASDAQ:SNDK). This means little to consumers, but investors that follow the ebb and flow of where Apple buys its components know the switch to SanDisk for these flash drives marks a shift in where Apple’s funds are directed. DigiTimes reported in September that Apple was shifting its sourcing of NAND flash memory to Japanese manufacturers like Toshiba rather than Korea-based Samsung (PINK:SSNLF), which it relied on in the past.
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http://www.investorplace.com/2011/10/apple-rumors-iphone-4s-t-mobile-sandisk-ipods/
SNDK
Earnings Preview: SanDisk's Q2 expected to be in-line
SanDisk (SNDK) is expected to report Q2 earnings after the market close on Thursday, July 21 with a conference call scheduled for 5:00 pm ET. The consensus estimate is 99c for EPS and $1.34B for revenue, according to First Call. Guidance provided by management on its last earnings call is for Q2 revenue of $1.3B-$1.35B and gross margin similar to Q1. Wedbush expects SanDisk to likely report Q2 results that are largely in-line with Street expectations, driven by favorable NAND pricing. Wedbush stated that even though we are heading into the seasonally strongest period for NAND flash, it thinks consumer demand trends, outside of tablets and smartphones, particularly the Apple (AAPL) phenomena, will likely be below typical seasonality for retail flash memory cards and USB drives. Wedbush is also concerned that increased NAND supply could cause ASPs to decline above historical trends. While SanDisk's strategic acquisition of Pliant bolstered Wedbush's long-term view, the firm is concerned that Q3 outlook could potentially disappoint and look for guidance in-line with its below-Street estimates of $1.04 on $1.43B in revenue. Consensus for Q3/FY11 is $1.11/$4.40 on $1.49B/$5.78B in revenue. Guidance for FY11 capex has been $1.4B-$1.6B. :theflyonthewall.com
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http://www.theflyonthewall.com/permalinks/entry.php/SNDKid1462003/SNDK-Earnings-Preview-SanDisks-Q-expected-to-be-inline
SNDK
SanDisk Co. (SNDK) Given New $58.00 Price Target by ThinkEquity Analysts.
Tuesday, July 05, 2011 10:11 AM
Equities research analysts at ThinkEquity lowered their price target on shares of SanDisk Co. (NASDAQ: SNDK) to $58.00 in a research note to investors on Tuesday. The analysts currently have a "buy" rating on the stock.
Separately, analysts at Deutsche Bank (NYSE: DB) upgraded shares of SanDisk Co. from a "hold" rating to a "buy" rating in a research note to investors on Tuesday. They now have a $55.00 price target on the stock. Also, analysts at Sterne Agee reiterated a "buy" rating on shares of SanDisk Co. in a research note to investors on Tuesday, May 17th. They now have a $65.00 price target on the stock.
Shares of SanDisk Co. traded up 2.38% during mid-day trading on Wednesday, hitting $43.82. SanDisk Co. has a 52 week low of $33.03 and a 52 week high of $53.61. The stock's 50-day moving average is $47.30 and its 200-day moving average is $47.40. The company has a market cap of $10.443 billion and a price-to-earnings ratio of 7.98.
SanDisk Co. last announced its quarterly results on Thursday, April 21st. The company reported $1.03 earnings per share (EPS) for the previous quarter, beating the Thomson Reuters consensus estimate of $1.00 EPS by $0.03. During the same quarter in the prior year, the company posted $0.95 earnings per share. The company’s quarterly revenue was up 19.20% on a year-over-year basis. On average, analysts predict that SanDisk Co. will post $1.12 EPS next quarter.
SanDisk Corporation (SanDisk) is engaged in designing, developing and manufacturing data storage solutions in a range of form factors using the flash memory, controller and firmware technologies. The Company’s solutions include removable cards, embedded products, universal serial bus (USB) drives, digital media players, wafers and components. The removable card products are used in a range of consumer electronics devices, such as mobile phones, digital cameras, gaming devices and laptop computers. Its embedded flash products are used in mobile phones, navigation devices, gaming systems, imaging devices and computing platforms. For computing platforms, it provides high-speed, high-capacity storage solutions known as solid-state drives (SSDs), that can be used in hard disk drives in a variety of computing devices.
Stay on top of analysts' coverage with American Banking & Market News' daily email newsletter that provides a concise list of analysts' upgrades, analysts' downgrades and analysts' price target changes for each day.Click here to register.
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http://www.newsystocks.com/News/4099060/sandisk-co-sndk-given-new-58-00-price-target-by-thinkequity-analysts
SNDK
Portability & Cloud Services Lift SanDisk’s Outlook
June 24th, 2011 by Trefis Team
+23.71%
Upside
40.90
Market
50.60
Trefis
Apple (NASDAQ:AAPL) recently announced the launch of its iCloud storage service at its Worldwide Developers Conference (WWDC) 2011. As a master at getting buzz behind new product launches, Apple put its weight behind one of the hottest themes in the computer industry with cloud computing. If Apple gains traction with the iCloud, we will likely see similar offerings from other players in the smartphones and PC market like Google (NASDAQ:GOOG), Microsoft (NASDAQ:MSFT), HP (NYSE:HPQ), Nokia (NYSE:NOK), Research in Motion (NASDAQ:RIMM) and Motorola Mobility (NYSE:MMI) among others. Below we look at how this move could impact NAND based flash storage and SanDisk in particular.
We currently have a $50.60 Trefis price estimate for SanDisk (NASDAQ:SNDK), the third largest player in NAND industry, which is about 15% above the stock’s market price.
Cloud Services to Fuel On-The-Move Media Consumption
The demand for “high quality” media consumption on the move is likely to get a serious boost as a result of the iCloud and other competing services (already present or likely to follow). This will indeed increase the demand for some basic minimum local storage – for instant access when not connected to the web.
While the shift to the cloud will likely hurt hard disk drive (HDD) sales as users store less data on hard drives locally, SanDisk’s storage hardware will benefit as users adopt the Cloud because NAND based flash and used primarily in smartphones and media tablets. The cloud shift will also hasten SSD adoption among PCs as speed and portability requirements replace sheer volume as the top priority among consumers.
Also while cloud services may seem to reduce the average flash storage capacity per user as consumers store less media locally, the rapidly increasing file sizes (3D Videos, large sized image files etc.) are likely to counter any impact this is likely to have on local flash storage capacities. (High Def Entertainment Should Lift Data Storage Firms)
The company expects NAND flash consumption to increase 10 times by 2014 primarily driven by smartphones and tablets. [1]
We will update the SanDisk model to better reflect the impact of SSDs on the firm’s stock price. In the meanwhile you can see our complete analysis for SanDisk here.
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http://www.trefis.com/stock/sndk/articles/61228/portability-cloud-services-lift-sandisks-outlook/2011-06-24
SNDK
I'll volunteer to mod.
Adding SNDK to my watchlist.
Nice trading range here.
LOOK FOR SHARES OF SANDISK TO POTENTIALLY REBOUND AFTER YESTERDAY'S 3.08% SELL OFF (SNDK)
Jun 20, 2011 (SmarTrend(R) News Watch via COMTEX) -- SanDisk (NASDAQ:SNDK - Analyst Report) traded in a range yesterday that spanned from a low of $40.68 to a high of $42.93. Yesterday, the shares fell 3.08%, which took the trading range below the 3-day low of $41.96 on volume of 8.4 million shares. Often times after large one-day declines, short-term traders may play for some degree of mean revision.
Shares of SanDisk are currently trading below their 50-day moving average (MA) of $46.34 and below their 200-day MA of $44.88. Look for the MA to provide resistance for a short-term rebound in the shares.
SmarTrend currently has shares of SanDisk in an Downtrend and issued the Downtrend alert on May 17, 2011 at $46.73. The stock has fallen 9.6% since the Downtrend alert was issued.
SmarTrend expects the share price to rebound toward the $41.96 resistance level. Afterwards, we expect it to move downward with its peers in the SmarTrend Semiconductor- Specialized industry.
Write to Chip Brian at cbrian@mysmartrend.com
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http://www.zacks.com/research/get_news.php?id=171l5003
SNDK
You should sign up to be the mod......I think you have to have like 5 posts on the board or something.......then click on the Add me as moderator button............z
Wow dead board here whassup?
Buy low $40's sell low $50's has been recipe for success in the last year or so...
2:57PM NASDAQ 100 (NDX) strength & weakness- Memory/Storage component (SNDK) continues to lead all gainers, holding near new Nov. highs on above daily average trading volume (SNDK) :
NDX 10 Best % Performers:
SNDK,
http://finance.yahoo.com/marketupdate/inplay
Shares of SanDisk (SNDK) are up $2.67, or almost 7%, at $42.65 after R.W. Baird & Co. analyst Tristan Gerra today raised his rating on the stock to Outperform from Neutral, and hiked his price target to $56 from $42.
Gerra says pricing for NAND flash bottomed out in Q3 and the growth in smartphones and, especially, tablets, will drive demand in 2011, while supply growth for flash is expected to be limited.
Gerra’s checks suggest Apple (AAPL) will take advantage of low prices in NAND to double the flash content in the expected second rev of the iPad, and possibly also in the version of the iPhone expected to debut on Verizon Communications’s (VZ) Verizon Wireless unit.
“Verizon iPhone NAND build is currently ongoing, per our checks,” writes Gerra.
All this should lead to stable gross profit margins for SanDisk in 2011, he writes. Gerra’s price target represents a blended multiple of 14 times projected EPS of $4 in 2011.
http://blogs.barrons.com/techtraderdaily/2010/11/22/sandisk-jumps-baird-ups-to-buy-56-target/?mod=yahoobarrons
$40.28 close.
Getting closer to my sell price!
Go baby!
Trueheart
That gives you a lot of outs, DOA.
Good luck.
Trueheart
I'm keeping myself in calls for this end of year run up and the possibility of a buyout or being taken private at a much higher pps in the near future.
DOA, haven't heard a thing. Nothing on MSN money either.
Trueheart
Somethings up. Anyone hear anything?
Somethings up. Anyone hear anything?
$36.99 close.
Couldn't hold its mud and fell back from a decent earnings report.
Damn!
Trueheart
Your analysis looks good. Now if tech sentiment in general will let the share price rise for this memory giant.
Good luck!
Trueheart
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