SNDK worth $1,462—are you looking to buy the dip?

First, look at the surface: a brutal pullback, but the fundamentals haven’t broken.

ATH 2,354; the low in July was hammered to 1,325; it rebounded back to 1,462, and is still down 38% from its recent peak. On July 24, it crashed 10.79% in a single day, with a surge in volume. Moving averages on the daily chart are in a bearish arrangement; the RSI has returned to a relatively low zone, but there’s still room before oversold. Either it stabilizes here and rebounds, or it continues to probe 1,200—there’s no middle option.

First thing: the crash isn’t because the company is bad, but because it’s “rallied too fast.”

SNDK rose from the 2025 low of $40 to 2,354 in June 2026; the YTD gain is up 800%, and the one-year return is over 3,000%.

Have you ever seen a stock that jumped 30x in a year that doesn’t pull back?

This drop is a classic case of a “crowded trade” getting trampled—everyone was making money in AI storage, and once someone exits first, the chain reaction kicks in. But look at the fundamentals: Q3 revenue was 5.95 billion yuan, up 251% year over year; data center revenue was up 233% quarter over quarter. Gross margin is 78%+ (non-GAAP), zero debt, plenty of cash, and it has already started share repurchases.

Second thing: the AI storage story is longer than you think.

Citi just called out “chip stocks buying opportunities,” emphasizing that AI memory demand will continue through 2030. Storage accounts for 1/3 of AI infrastructure capital expenditure, and the tight NAND supply expectation is projected to last until 2027-2028.

SNDK has already signed five multi-year supply agreements, locking in at least $42 billion in revenue plus $11 billion in financial guarantees. More than 1/3 of the FY2027 unit shipments are already locked in. BiCS10 3D NAND has begun sampling, and next-generation products are on the way.

Third thing: a technical signal has appeared that must be watched.

The 1,400 level is a prior heavy-volume zone and also the stop-loss line for a large number of longs. If it holds, a double bottom forms and the rebound targets 1,600-1,800. If it fails to hold, the next stop is 1,200.

Perpetuals premium over the weekend is at 1,462, implying bulls are betting on a rebound at the US stock market open. But if Monday opens with a gap down into a low open—leveraged longs will get wiped out directly.

Bull vs bear—judge for yourself.

One side is:

Revenue up 251% year over year; gross margin 78%+; zero debt; buybacks already underway

Long-term supply contracts locking $42 billion; capacity is basically sold out

AI storage demand continues through 2030; NAND supply tight through 2027+

Down 39% from ATH; forward PE has fallen to single digits—low double digits

Analyst target prices 1,500-2,200+; consensus buy

The other side is:

Technical breakdown; moving averages in a bearish arrangement

July 24 saw a 10.79% plunge; panic sentiment not gone

Memory stocks have cycle-like characteristics; the market worries about new capacity coming online in 2027-2028

If it breaks below 1,400, technical selling accelerates

Volatility is amplified around the FOMC; uncertainty is high ahead of earnings

Key levels

Resistance overhead: 1,500-1,570 → 1,600-1,700 → 1,860-1,900 → 2,000+

Support below: 1,400-1,410 → 1,325-1,350 → 1,200-1,270 → 1,000

Short-term gamblers:

Try a small long position at 1,400-1,420; stop-loss at 1,380; target 1,500-1,570. If there’s a volume-backed breakout above 1,600, add; target 1,800+.

Swing traders:

Wait for daily chart to gain volume and hold above 1,500 to enter on the right side; target 1,800-2,000. If it breaks below 1,400 with volume, exit unconditionally and wait for 1,200-1,270 to catch.

Long-term value:

DCA in batches around 1,462; you’re betting on the long-term logic of an “AI storage super-cycle,” targeting a return to 2,000+ and potentially higher. Set stop-loss below 1,200.

Risk-control iron law:

Per trade, don’t exceed 2% of total capital

Reduce or liquidate positions and observe 3 days before earnings

Be mindful of funding rates on perpetuals—don’t hold an oversized position

SNDK right now is like NVIDIA from 2023—

Everyone thinks, “It’s up too much; it must crash,” and yet every pullback turns out to be a chance to get in, then it runs all the way from 200 to 1,000.

But AI storage isn’t AI chips—the cycle-like nature is stronger. You can buy the dip, just don’t buy it so hard that you end up acting like a shareholder.

If 1,400 holds, that’s the golden pit. If 1,400 doesn’t hold, that’s the pit for ten thousand people. #直通IPO第二期JerseyMikes #夏日创作营 #Gate事件合约首发狂欢 $BTC $NVDA $SNDK