On September 10, SanDisk Corp. fell 4.18% in regular trading, trading at approximately $1,711.99/share, with turnover of $2.94 billion. The decline was triggered by Kioxia CEO Hiroo Ota publicly stating that NAND prices have \"risen enough,\" directly suppressing expectations for continued storage chip price increases.

Ota disclosed that he has instructed his sales team not to aggressively push price hikes on data center clients, warning that excessive pricing could damage AI investment appetite. Kioxia's NAND average selling price surged 70% quarter-over-quarter in the June quarter, following a prior-quarter doubling. Ota deemed another 70% sequential increase \"unlikely,\" noting even hyperscalers face budget constraints.

The bearish catalyst clashed with Goldman Sachs' same-day bullish call on the storage sector, which flagged technical breakouts and low hedge fund positioning as signals that the \"pain trade\" is now to the upside. At the Goldman Sachs TMT conference, SanDisk management itself projected long-term tight NAND supply driven by AI inference demand expansion.

However, with SanDisk shares already up over 400% year-to-date and having retreated from a $2,350 peak in late June, near-term NAND pricing ceiling fears compounded heavy profit-taking pressure, weighing on the stock despite an Argus upgrade to \"Buy\" and a $1,600 target price.

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