Jefferies cut its price target on SanDisk stock by 42% from $3,000 to $1,750 despite record quarterly earnings. Quarterly revenue reached $8.97 billion, a 372% year-over-year increase, while non-GAAP gross margin came in at 84.6%. Data center revenue surged 103% in a single quarter to $2.98 billion. Despite these exceptional results, the stock has lost 25% of its value over the past month, with multiple analysts also lowering their price targets.
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