SanDisk Just Crashed 22% On Midterms, Down 43% Over 3 Months: One Of The Highest Ranked Sell Side Analysts Just Doubled Down That It Will Nearly Quadruple
Alex Sirois reports for 247wallst.com that SanDisk fell 20.11% as investors priced in slower U.S. data center construction after Democratic midterm gains, leaving it down 38.63% over three months yet up 249.14% year to date, while Bernstein's Stacy Rasgon repeated his Buy rating and $3,000 target implying 261.97% upside. The article cites Goldman Sachs economists' warning that midterm wins may bring data center moratoria affecting about 45% of planned U.S. capacity expansion, points to Texas's new governor's moratorium campaign pledge as its biggest worry, and notes Micron, Western Digital, and Seagate fell similarly, with bull and downside scenarios hinging on whether such restrictions spread.
