Billionaire Israel Englander Sells Sandisk Stock and Buys Another AI Memory Stock (Hint: Not Micron)
Yahoo Finance ·
Billionaire Israel Englander is the founder and CEO of Millennium Management, the fourth most successful hedge fund in history as measured by net gains since inception. In the first quarter, Englander made the following trades: He sold 1.1 million shares of memory-chip maker Sandisk ( SNDK +7.56% ) , cutting his position by 24%. He bought 343,000 shares of lesser-known data storage company Everpure ( P +4.16% ) , increasing his position by 60%. At first glance, those trades are somewhat surprising because Sandisk shares have advanced 3,600% in the past year, while Everpure shares have added 36%. Here's what investors should know. Sandisk designs storage devices based on NAND flash memory. The company has traditionally focused on consumer products like SD cards, USB flash drives, and portable solid-state drives (SSDs). But it recently shifted focus to enterprise SSDs to capitalize on growing demand for artificial intelligence infrastructure. While Sandisk is smaller than competitors Samsung and SK Hynix , it realizes cost efficiencies through a joint venture with Japanese manufacturer Kioxia. The companies share expenses related to research and development (R&D) and semiconductor fabrication equipment, which lets them control the supply chain and obtain memory wafers at below-market prices.
DYAX Investor Sentiment
Bullish (Long) 57% · Bearish (Short) 43%
422 participants
Related News
- SK Hynix makes history: AI dominance, ADRs, and the Korea Discount
- OpenAI’s key exec to step down due to health concerns
- Spike in options fear has favored S&P 500 gains
- Raymond James Sets Wall Street's Highest Price Target on SpaceX Stock at $800. Here's the Math Behind the 425% Upside Call.
- Generative Artificial Intelligence (AI) in Utilities Market Now Available, Profiles Microsoft, IBM, NVIDIA, and 21 Other Key Industry Leaders
- Bayer sells $3.4B stake in contraceptives business to Apollo