[JPMorgan: SanDisk Investor Day Expected to Guide Revenue Growth of Over 20% Annually, LTAs/HBM/eSSD Triple Factors Reshaping the Storage Cycle] Deep Tide TechFlow reports, according to Tide Research, JPMorgan experts commented on August 12 that SanDisk will hold its Investor Day on August 13. The market expects management to provide guidance for annual revenue growth of over 20%, with stable gross margins and operating leverage driving earnings per share growth of 20% to 30%, while significantly reducing cyclicality. Investor communications indicate that the market anticipates an annual buyback ratio of approximately 10%. As of now, SanDisk has signed agreements with 8 customers and 10 long-term contracts, covering over 50% of its FY2027 wafer capacity, with minimum revenue commitments reaching $93.9 billion. The HBM market is transitioning from standardization to customization, with Micron stating that HBM4E will usher in the era of "customized SKUs." The proportion of HBM squeezing traditional DRAM capacity has worsened from 3:1 to approximately 4:1. Enterprise SSDs now account for 48% of global NAND shipments, up from just 26% a year ago, with industry revenue growing fivefold year-over-year. JPMorgan believes that the combination of LTAs, HBM customization, and changes in eSSD demand structure is shifting storage chips from a commodity cycle to a structural cycle, potentially requiring adjustments to valuation methods. Quantinuum's quantum computer commercialization is accelerating, with CY27 revenue guidance exceeding $60 million (+34%). JPMorgan maintains a $97 price target and an overweight rating. AMD's F4Q26 gross margin of 17.6% exceeded guidance, with orders surpassing $60 billion, supporting FY27 revenue guidance of $65 billion to $72 billion. JPMorgan raised its price target to $45 but maintained a neutral rating, as governance and margin concerns offset strong demand.