On September 10, SanDisk Corp. fell 3.05% in pre-market trading to approximately $1,711.31 per share, with turnover of $729 million. The decline came as Kioxia CEO Hiroo Ota publicly stated that NAND memory prices have \"risen enough,\" directly pressuring expectations of continued storage chip price increases.

Ota, who assumed the CEO role in April, disclosed that he has instructed his sales team not to aggressively raise quotes for data center customers, warning that unchecked price hikes could ultimately damage AI investment appetite and undermine the broader memory market's long-term growth. Kioxia's NAND flash average selling price surged 70% quarter-over-quarter in the June quarter, following a prior quarter that saw prices more than double. Ota indicated that another 70% sequential increase is unlikely.

The bearish pricing signal clashed with a bullish Goldman Sachs research note issued the same day, which argued that memory stocks had broken out of a summer-long downtrend and that hedge fund positioning remained low. Meanwhile, SanDisk's year-to-date gain exceeding 400% — having touched $2,350 in late June — has fueled sustained profit-taking over the past month. Although Argus recently upgraded SanDisk from Hold to Buy with a $1,600 target, the confluence of NAND pricing peak concerns and heavy selling pressure weighed on shares.

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