[Jefferies Lowers SanDisk Target Price from $3,000 to $1,750, Maintains 'Buy' Rating] BlockBeats News, August 6: Jefferies has lowered the target price for SanDisk (SNDK) from $3,000 to $1,750 while maintaining a 'Buy' rating. Analyst Blayne Curtis stated that the company delivered strong execution in the June quarter, but the guidance for the September quarter only met expectations, which may dampen investor enthusiasm in the short term. SanDisk expects the year-over-year growth rate of NAND revenue in the September quarter to slow compared to the June quarter, with both bit shipments and average selling price increases expected to moderate. Management also lowered gross margin guidance, as the benefits of price improvements were offset by lower gross margins from long-term agreements. The edge business remained the largest contributor to growth in the June quarter, with revenue increasing nearly 400% year-over-year, accounting for 61% of total revenue. Jefferies believes this may include more aggressive inventory builds, which could translate into short-term pressure on bit shipment growth in the coming quarters. Consumer business revenue declined 32% quarter-over-quarter to $556 million, primarily due to price increases compressing market demand. The data center segment is expected to become SanDisk's primary growth driver in the future. The company's new business model has expanded to include eight customers in the data center and edge business segments. Over 50% of planned bit output for fiscal year 2027 and approximately 67% for fiscal year 2028 has already been committed by customers.