SNDK Surges 4.69% as Rosenblatt Initiates Buy Rating with $2,400 Target, Lifting Thai DRs Sharply

Yuanta Securities views Lam Research Corporation, or DR LRCX19, as one of the beneficiaries of rising demand for NAND flash memory, especially as AI usage expands from model training toward broader real-world deployment. Lam Research derives a relatively large share of revenue from equipment used to produce NAND, while revenue from equipment for DRAM memory chips is also supported by growing demand for advanced chips, namely the stacking of DRAM into HBM, a technology in which Lam Research already has expertise. In the short term, improving US-China relations could also be a supporting factor for the company, since it generates a high proportion of revenue from China and had previously been restricted from selling certain types of equipment to Chinese customers. The meeting between Trump and Xi Jinping could fuel short-term speculative interest. For the earnings outlook for fiscal year 2027, which ends in June 2027, the Bloomberg Consensus expects normalized profit to still grow strongly at 62% year on year, while the current price trades at a PER of 32 times for FY2027. It gives a target price of 4.80 baht per DR, implying 24% upside.

Sandisk has locked in buyers for roughly half of its output this fiscal year and two-thirds of next year's, under long-term contracts that carry floor prices and minimum financial guarantees. At its August investor day, the company said it had signed ten of these agreements with eight customers, and management set fiscal 2028 through 2030 targets of mid-to-high-teens revenue growth and adjusted gross margins around 80%. In its most recent quarter, ended July 3, revenue rose 372% from a year earlier to $8.97 billion, with data-center sales now about a third of the total, and the company swung to a profit of nearly $7 billion from a loss a year earlier. Sandisk, spun off from Western Digital in February 2025, authorized an additional $14 billion buyback alongside its August results and entered the S&P 100 on September 21, after shares gained more than 640% this year, the best performance in the S&P 500. The shares closed Friday about 24% below their June record, and the next signal is the fiscal first-quarter report, expected in early November.

Micron Technology is riding an AI-driven memory boom, with last quarter's sales hitting $41.46 billion, up dramatically from $9.3 billion a year earlier, and GAAP net income of $28.24 billion. The key question now is whether that boom can be sustained or whether added output will create excess supply and pressure pricing. Investor Millennial Dividends says low finished inventories at Samsung and SK Hynix point to roughly 70% of memory manufactured in 2026 going to data centers, and believes the three big providers of DRAM and HBM have sold all their capacity until next year, which could keep the memory market tight as AI infrastructure grows. The investor calls the combination of strong data-center demand and new capacity coming online a tailwind to additional earnings growth, adding that Micron isn't demanding on a fiscal 2027 value. Wall Street currently has 29 Buy recommendations and one Hold, with an average 12-month price goal of $1,564.44. The next driver is whether Micron can keep pricing power as new memory capacity is added and AI demand continues to swallow supply.