Shares of Sandisk surged 21.5% through 10 a.m. ET today, recovering from a nearly 37% decline over the prior four trading days. HSBC analyst Alastair Pinder attributed 37% of recent semiconductor volatility to investor belief that AI hyperscalers like Google, OpenAI, and Anthropic are overspending on AI capacity, which benefits memory chip suppliers like Sandisk. Pinder also noted that 20% of volatility stems from concerns over Chinese memory chip competition, highlighted by CXMT's $8.5 billion IPO, and 26% from AI positioning capitulation as investors rotate into defensive stocks. The rebound reflects renewed confidence that continued hyperscaler spending will support Sandisk's business despite broader AI market uncertainty.
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