Kospi Back in Bull Market on Chip Rally: Can Sandisk Keep It Going?

South Korea's Kospi index climbed back into bull market territory this week. It has risen more than 20% from its July low as memory chip stocks led a broad recovery.

The rally accelerated Thursday when Sandisk (SNDK) jumped 13.7% on a bullish long-term outlook. The momentum carried into Asian trading Friday.

Sandisk's Long-Term Plan Sparks the Rally

Sandisk stock closed at $1,528.11 on Thursday after executives detailed a plan for consistent revenue growth through fiscal 2030. The company guided to mid-to-high-teens revenue growth and adjusted gross margins near 80%.

Chief Financial Officer Luis Visoso outlined the payout plan for investors.

"We are optimizing for growth, sustainability and returns. As we do that, we expect to return 100% of excess cash to our shareholders after investing in the business."

Evercore ISI's Amit Daryanani pointed to new multiyear customer agreements worth $93.9 billion across eight clients, including three U.S. hyperscale data center operators, as the basis for his reiterated outperform rating.

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