The business
A maker of NAND flash memory and solid-state storage products for data centres, PCs, smartphones and consumer devices. It was spun off from Western Digital in February 2025 and trades on Nasdaq under SNDK.
FINANCIAL OVERVIEW
What it is and why we own it.
Role in the portfolio
Cyclical, high-beta exposure to the data-storage demand that AI and cloud build-outs are driving.
What drives the numbers
- NAND pricing and the balance between industry supply and demand
- Data-centre SSD revenue as a share of the mix
- Gross margin and operating leverage through the cycle
- Capital spending discipline across the memory industry
Key risks
- Memory is a boom-and-bust industry: prices swing with supply and demand
- A short history as an independent listed company
- Competition from larger, vertically integrated memory manufacturers
CHART
Price and technical analysis.
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Technical summary
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Company profile
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FUNDAMENTALS
Financials, live.
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