<p><img src="https://imageproxy.pbkrs.com/https://invezz-wp-media.lon1.digitaloceanspaces.com/2026/05/SanDisk-NAND-products.png?x-oss-process=image/auto-orient,1/interlace,1/resize,w_1440,h_1440/quality,q_95/format,jpg" alt="" width="1619" height="972" original-src="https://imageproxy.pbkrs.com/https://invezz-wp-media.lon1.digitaloceanspaces.com/2026/05/SanDisk-NAND-products.png"/></p>
<p>週二，閃迪（Sandisk，股票代碼：SNDK）股價下跌 1.5%，儘管花旗研究大幅上調了該閃存公司的目標價，原因是與人工智能基礎設施和超大規模數據中心擴展相關的 NAND 存儲需求加速增長。</p>
<p>花旗將閃迪股票的目標價從 1,300 美元上調至 2,025 美元，同時維持對該股票的 “買入” 評級。</p>
<p>新的目標價意味着相較於週一收盤價 1,333.01 美元，約有 52% 的上漲空間。</p>
<p>這一樂觀展望是在閃迪股票經歷歷史性反彈之後提出的。</p>
<p>在過去 12 個月中，隨着企業固態硬盤（eSSDs）需求的快速增長，閃迪股票上漲超過 3,200%。</p>
<p>花旗分析師 Asiya Merchant 表示，內存市場繼續受益於緊張的供應狀況和強勁的客户需求。</p>
<p>“我們對高度有利的 [供需] 環境持建設性看法，並且通過 [2030] 年與客户需求對話的明確跡象表明這種需求將持續，” Merchant 寫道。</p>
<h2>人工智能基礎設施推動 NAND 需求上升</h2>
<p>花旗的升級展望部分得益於日本內存製造商 Kioxia Holdings 最近強勁的財報，該公司與閃迪有着密切的合作關係。</p>
<p>Kioxia 報告稱，季度收入增長約 85%，年增長約 190%，並預測 NAND 閃存市場將持續供應緊張。</p>
<p>根據花旗的説法，來自超大規模雲服務提供商擴展生成式人工智能訓練和推理系統的需求正在推動企業 SSD 價格的快速增長。</p>
<p>該券商預計，2026 年 NAND 平均售價將同比上漲超過 186%，企業 SSD 價格可能以更快的速度上漲。</p>
<p>Kioxia 還預測，整體 NAND 內存需求可能在至少 2027 年前持續超過供應。</p>
<p>閃迪於 2025 年 2 月從西部數據分拆出來，越來越專注於企業和雲存儲市場，同時繼續運營其消費類閃存業務。</p>
<p>花旗表示，該公司與 Kioxia 的合作關係以及對與人工智能相關的存儲需求的曝光，使閃迪在不斷發展的半導體內存行業中處於有利位置。</p>
<h2>股票回購增強樂觀展望</h2>
<p>分析師還指出，閃迪最近宣佈的 60 億美元股票回購授權可能成為盈利增長的另一個潛在驅動因素。</p>
<p>花旗估計，隨着自由現金流的改善，回購計劃可能會在一段時間內顯著提升每股收益。</p>
<p>每減少 1% 的閃迪股票數量，花旗估計每股收益可能增加約 2 美元。</p>
<p>該券商指出，其當前的財務模型尚未完全納入未來回購的影響，這表明在新提高的目標價之外可能還存在額外的上漲空間。</p>
<p>更廣泛的分析師社區對該公司的前景也保持了相對樂觀的態度。</p>
<p>在 FactSet 追蹤的 26 家公司中，目前有 20 家將閃迪股票評級為 “買入”，而僅有一家將該股票評級為 “賣出”。</p>
<p>花旗據報道是第五家對該股票設定至少 2,000 美元目標價的華爾街公司。</p>
<h2>儘管勢頭強勁，風險依然存在</h2>
<p>儘管前景樂觀，花旗警告稱，幾個風險仍可能影響閃迪及更廣泛的內存芯片行業的長期發展軌跡。</p>
<p>潛在的供應過剩狀況、來自中國製造商的競爭加劇，以及全球人工智能基礎設施或數據中心支出的任何放緩，都可能對價格和盈利能力施加壓力。</p>
<p>與此同時，另一家內存芯片公司美光科技股價下跌，而數據存儲公司希捷科技和西部數據在交易時段內也均下跌超過 4%。</p>
<p>這篇文章的標題為《閃迪股票下滑：為何這位分析師仍然看到 50% 的上漲空間》，首次出現在 Invezz 上。</p>

閃迪

<p>儘管花旗研究將其目標價從 1,300 美元上調至 2,025 美元，暗示潛在的 52% 上漲空間，閃迪的股價仍下跌了 1.5%。這一樂觀前景源於與人工智能基礎設施和數據中心擴張相關的 NAND 存儲需求強勁。閃迪的股票在過去一年中飆升了超過 3,200%。分析師還指出，60 億美元的股票回購可能會提升收益。然而，潛在的供應過剩和競爭等風險依然存在</p>

<p><img src="https://imageproxy.pbkrs.com/https://invezz-wp-media.lon1.digitaloceanspaces.com/2026/05/SanDisk-NAND-products.png" alt="" original-src="https://invezz-wp-media.lon1.digitaloceanspaces.com/2026/05/SanDisk-NAND-products.png"/></p>
<p>Shares of Sandisk (SNDK) fell 1.5% on Tuesday even as Citi Research sharply raised its price target on the flash memory company, citing accelerating demand for NAND storage tied to artificial intelligence infrastructure and hyperscale data center expansion.</p>
<div class="lb-trans"><p>週二，閃迪（Sandisk，股票代碼：SNDK）股價下跌 1.5%，儘管花旗研究大幅上調了該閃存公司的目標價，原因是與人工智能基礎設施和超大規模數據中心擴展相關的 NAND 存儲需求加速增長。</p>
</div><p>Citi lifted its target price on Sandisk shares to $2,025 from $1,300 while maintaining a “Buy” rating on the stock.</p>
<div class="lb-trans"><p>花旗將閃迪股票的目標價從 1,300 美元上調至 2,025 美元，同時維持對該股票的 “買入” 評級。</p>
</div><p>The new target implies roughly 52% upside from Monday’s closing price of $1,333.01.</p>
<div class="lb-trans"><p>新的目標價意味着相較於週一收盤價 1,333.01 美元，約有 52% 的上漲空間。</p>
</div><p>The bullish outlook comes after a historic rally in Sandisk shares.</p>
<div class="lb-trans"><p>這一樂觀展望是在閃迪股票經歷歷史性反彈之後提出的。</p>
</div><p>The stock has surged more than 3,200% over the past 12 months as demand for enterprise solid-state drives, or eSSDs, increased rapidly alongside the global buildout of AI infrastructure.</p>
<div class="lb-trans"><p>在過去 12 個月中，隨着企業固態硬盤（eSSDs）需求的快速增長，閃迪股票上漲超過 3,200%。</p>
</div><p>Citi analyst Asiya Merchant said the memory market continues benefiting from tight supply conditions and strong customer demand.</p>
<div class="lb-trans"><p>花旗分析師 Asiya Merchant 表示，內存市場繼續受益於緊張的供應狀況和強勁的客户需求。</p>
</div><p>“We remain constructive on a highly favorable [supply-demand] environment with clear indications of persistence with customer demand conversations through [2030],” Merchant wrote.</p>
<div class="lb-trans"><p>“我們對高度有利的 [供需] 環境持建設性看法，並且通過 [2030] 年與客户需求對話的明確跡象表明這種需求將持續，” Merchant 寫道。</p>
</div><h2>AI infrastructure drives NAND demand higher</h2>
<div class="lb-trans"><h2>人工智能基礎設施推動 NAND 需求上升</h2>
</div><p>Citi’s upgraded outlook was supported partly by strong recent earnings from Japanese memory manufacturer Kioxia Holdings, which partners closely with Sandisk.</p>
<div class="lb-trans"><p>花旗的升級展望部分得益於日本內存製造商 Kioxia Holdings 最近強勁的財報，該公司與閃迪有着密切的合作關係。</p>
</div><p>Kioxia reported approximately 85% sequential revenue growth and around 190% annual growth while forecasting continued supply tightness across the NAND flash memory market.</p>
<div class="lb-trans"><p>Kioxia 報告稱，季度收入增長約 85%，年增長約 190%，並預測 NAND 閃存市場將持續供應緊張。</p>
</div><p>According to Citi, demand from hyperscale cloud providers expanding generative AI training and inference systems is driving rapid growth in enterprise SSD pricing.</p>
<div class="lb-trans"><p>根據花旗的説法，來自超大規模雲服務提供商擴展生成式人工智能訓練和推理系統的需求正在推動企業 SSD 價格的快速增長。</p>
</div><p>The brokerage expects NAND average selling prices to rise more than 186% year over year in 2026, with enterprise SSD pricing potentially increasing at an even faster pace.</p>
<div class="lb-trans"><p>該券商預計，2026 年 NAND 平均售價將同比上漲超過 186%，企業 SSD 價格可能以更快的速度上漲。</p>
</div><p>Kioxia also projected that overall demand for NAND memory could continue exceeding supply through at least 2027.</p>
<div class="lb-trans"><p>Kioxia 還預測，整體 NAND 內存需求可能在至少 2027 年前持續超過供應。</p>
</div><p>Sandisk, which was spun out from Western Digital in February 2025, has increasingly focused on enterprise and cloud storage markets while continuing to operate its consumer flash-storage business.</p>
<div class="lb-trans"><p>閃迪於 2025 年 2 月從西部數據分拆出來，越來越專注於企業和雲存儲市場，同時繼續運營其消費類閃存業務。</p>
</div><p>Citi said the company’s partnership with Kioxia and exposure to AI-related storage demand position Sandisk favorably within the evolving semiconductor memory industry.</p>
<div class="lb-trans"><p>花旗表示，該公司與 Kioxia 的合作關係以及對與人工智能相關的存儲需求的曝光，使閃迪在不斷發展的半導體內存行業中處於有利位置。</p>
</div><h2>Share buybacks add to bullish outlook</h2>
<div class="lb-trans"><h2>股票回購增強樂觀展望</h2>
</div><p>Analysts also pointed to Sandisk's recently announced $6 billion share repurchase authorization as another potential driver for earnings growth.</p>
<div class="lb-trans"><p>分析師還指出，閃迪最近宣佈的 60 億美元股票回購授權可能成為盈利增長的另一個潛在驅動因素。</p>
</div><p>Citi estimates the buyback program could materially boost earnings per share over time as free cash flow improves.</p>
<div class="lb-trans"><p>花旗估計，隨着自由現金流的改善，回購計劃可能會在一段時間內顯著提升每股收益。</p>
</div><p>For every 1% reduction in Sandisk’s share count, Citi estimates earnings per share could increase by roughly $2.</p>
<div class="lb-trans"><p>每減少 1% 的閃迪股票數量，花旗估計每股收益可能增加約 2 美元。</p>
</div><p>The brokerage noted that its current financial model does not yet fully incorporate the impact of future repurchases, suggesting additional upside could exist beyond the newly raised price target.</p>
<div class="lb-trans"><p>該券商指出，其當前的財務模型尚未完全納入未來回購的影響，這表明在新提高的目標價之外可能還存在額外的上漲空間。</p>
</div><p>The broader analyst community has also remained largely positive on the company’s outlook.</p>
<div class="lb-trans"><p>更廣泛的分析師社區對該公司的前景也保持了相對樂觀的態度。</p>
</div><p>Among 26 firms tracked by FactSet, 20 currently rate Sandisk shares as a Buy, while only one firm rates the stock as a Sell.</p>
<div class="lb-trans"><p>在 FactSet 追蹤的 26 家公司中，目前有 20 家將閃迪股票評級為 “買入”，而僅有一家將該股票評級為 “賣出”。</p>
</div><p>Citi is reportedly the fifth Wall Street firm to assign a price target of at least $2,000 to the stock.</p>
<div class="lb-trans"><p>花旗據報道是第五家對該股票設定至少 2,000 美元目標價的華爾街公司。</p>
</div><h2>Risks remain despite strong momentum</h2>
<div class="lb-trans"><h2>儘管勢頭強勁，風險依然存在</h2>
</div><p>Despite the optimistic outlook, Citi cautioned that several risks could still affect the long-term trajectory for Sandisk and the broader memory-chip sector.</p>
<div class="lb-trans"><p>儘管前景樂觀，花旗警告稱，幾個風險仍可能影響閃迪及更廣泛的內存芯片行業的長期發展軌跡。</p>
</div><p>Potential oversupply conditions, increasing competition from Chinese manufacturers, and any slowdown in global AI infrastructure or data-center spending could pressure pricing and profitability.</p>
<div class="lb-trans"><p>潛在的供應過剩狀況、來自中國製造商的競爭加劇，以及全球人工智能基礎設施或數據中心支出的任何放緩，都可能對價格和盈利能力施加壓力。</p>
</div><p>Meanwhile, fellow memory-chip company Micron Technology traded lower, while data-storage firms Seagate Technology and Western Digital also fell more than 4% lower during the session.</p>
<div class="lb-trans"><p>與此同時，另一家內存芯片公司美光科技股價下跌，而數據存儲公司希捷科技和西部數據在交易時段內也均下跌超過 4%。</p>
</div><p>The post SanDisk stock slips: why this analyst still sees a 50% upside appeared first on Invezz</p>
<div class="lb-trans"><p>這篇文章的標題為《閃迪股票下滑：為何這位分析師仍然看到 50% 的上漲空間》，首次出現在 Invezz 上。</p>
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閃迪股票下跌：為何這位分析師仍然認為有 50% 的上漲空間