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Summary

Sandisk is a Buy with a 12-month price target of $1,830, reflecting 32% upside and minimal direct DRAM exposure.

The recent CXMT DRAM news triggered an 18% drop, but SNDK's contracted flash business and Japanese supply chain insulate it from DRAM-specific risks.

NBM agreements cover $59.8B in future revenue, with price floors and ceilings, supporting earnings even if flash prices decline sharply.

I will add to my position if the Oct. 29 report shows a gross margin above 83% and continued pricing strength; a margin below 83% would trigger a hold.

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A DRAM announcement out of China took 18% off Sandisk Corporation ( SNDK ) in a single week. That happened even though Sandisk's focus is flash storage and not DRAM. Because of this, I wanted to look

Analyst’s Disclosure: I/we have no stock, option or similar derivative position in any of the companies mentioned, and no plans to initiate any such positions within the next 72 hours.…