Sandisk

Sandisk shares dropped about 7.5% after reports the U.S. will allow Apple to buy memory chips from Chinese suppliers ChangXin Memory Technologies and Yangtze Memory Technologies. YMTC directly competes with Sandisk in NAND production, while CXMT focuses on DRAM; initial use would be limited to Apple products sold in China. Analysts say neither Chinese supplier yet threatens Sandisk materially due to certification and capacity limits, but large IPO proceeds could enable rapid production ramp-up, posing a rising risk to Sandisk's market share. » More on finance.yahoo.com

Chip stocks led declines at the open as memory names such as Sandisk and Micron fell sharply amid reports the Trump administration may allow Apple to source chips from China's CXMT. Tech sector weakness pulled the S&P 500 and Nasdaq into the red while consumer staples outperformed in early trading. Markets also reacted to geopolitical and trade developments, including potential new sanctions on Iran and stalled US-Canada talks. » More on finance.yahoo.com

In Q4 SanDisk posted revenue up 51% to $8.97 billion and guided next-quarter sales to $10.3–10.8 billion. Management approved a new $14 billion share buyback program. At its investor day the company unveiled a multi-year growth strategy; the stock rose about 13% on August 13. The group also reported large orders totaling more than $94 billion, underscoring demand for flash memory and SSDs. » More on finanzen.net