Last night, U.S. storage stocks rallied across the board, with $SNDK briefly breaking above $1,000 intraday and reaching a high of around $1,012; Micron, Western Digital, and Seagate also surged

This rebound came at a pretty timely moment 😂

Storage stocks had been in a prolonged correction, and SNDK had retreated sharply from its highs, as concerns over whether AI capital spending could be sustained clearly intensified;

Meanwhile, CoreWeave’s latest earnings report and guidance reassured the market that demand for AI infrastructure had not cooled as sharply as previously feared

Personally, I’m still relatively bullish on the storage sector: after all, the improvement in NAND supply and demand hasn’t suddenly disappeared just because share prices plunged, and short-term multiple compression can coexist with a long-term earnings thesis

However, SNDK’s retreat after breaking above $1,000 shows that selling pressure overhead remains considerable

For now, I’m more inclined to view this rally as a recovery after becoming oversold; whether it can regain a firm footing above $1,000 is the signal worth watching next