US Stock Market Move | The storage sector rose collectively, with SanDisk (SNDK.US) up more than 5%.

On Friday, the storage sector collectively rose, with SanDisk (SNDK.US) gaining over 5%, Micron Technology, Inc. (MU.US) and Western Digital Corporation (WDC.US) increasing by more than 3%, and SK Hynix (SKHY.US) and Seagate Technology Holdings PLC (STX.US) rising by over 2%. In news, on August 13th, Eastern Time, SanDisk announced its long-term financial model at its 2026 Investor Day, proposing a series of financial targets to be achieved from fiscal year 2028 to fiscal year 2030, including a commitment to maintain middle to high double-digit growth in revenue during this period. SanDisk also clarified market concerns about bit growth, stating that the quantity of bits available for sale will be adjusted based on profitability optimization needs, while committing to returning 100% of remaining cash to shareholders after fulfilling business investments. Goldman Sachs Group, Inc. pointed out that SanDisk not only provided long-term financial guidance that far exceeded market expectations (80% gross margin, 75% operating profit margin), but also made a significant commitment to return 100% of excess free cash flow to shareholders. Additionally, its next-generation HBF (High Bandwidth Flash) technology roadmap for AI inference presents significant upside potential for the company. Goldman Sachs Group, Inc. reaffirmed its "Buy" rating on SanDisk, setting a 12-month price target of up to $2,200 (based on a 20 times price-to-earnings ratio of $110 normalized earnings per share), indicating an upside potential of approximately 44% from the current stock price of $1,528.