Easy come, easy go.
At one point yesterday, Sandisk (NASDAQ: SNDK) stock was up 6% — before giving back almost all its gains at the close
Today, Sandisk continues to slide lower, with losses hitting 6.5% as of 11:25 a.m. ET. And yet, the news for Sandisk today is actually pretty good.
Citi says “buy chip stocks” Citigroup this morning called the recent broad-based sell-off in semiconductor stocks a buying opportunity for investors. High demand for AI chips and memory chips at AI data centers is driving chip sales, says Citi, accounting for about 34% of total chip sales, and Citi sees demand continuing to outrun supply through 2030. Automotive and industrial chip demand accounts for 21% of the market and is also growing.