BUSINESS

The Boston Celtics made the worst trade in NBA history by dealing Jaylen Brown and draft picks to the Philadelphia 76ers for Paul George

New wallet creation hit a three-month high and large-holder activity strengthened, but XRP still needs to reclaim $1.10 before the recovery looks convincing.

Proposed satellite constellations from SpaceX and others are so large and bright they would change the night sky as we know it, a new scientific paper argues.

Long-term holding wallets have shifted to net accumulation from net distribution, according to Glassnode.

Sandisk (SNDK) has gained about 762.52% year to date at the time of writing, Wednesday afternoon, July 1. Meanwhile, the SPDR S&P 500 index (SPY) is up about 9.54% in the same period.The third-largest enterprise solid-state drive (SSD) manufacturer has outpaced the S&P 500 by a wide margin, thanks to its position in the semiconductor sector, which is rallying on the AI boom.Positive news driving Sandisk’s stock includes:Intel’s first-quarter earnings boosted confidence in the semiconductor sector.Bank of America revised its semiconductor industry forecast.The stock closed 10.62% down, as the semiconductor sector is facing a somewhat prolonged sell-off. The drop comes despite Bernstein’s recent price target raise to $3,000.Contrary to current sentiment, a research note shared with me, Bank of America analyst Wamsi Mohan and his team reiterated a bullish view on SanDisk and raised their price target.Bank of America raises Sandisk stock price targetThe team believes that the supply-and-demand imbalance in the NAND market will persist through the calendar year 2027. This should enable SanDisk to maintain pricing power for longer.In its third quarter (Q3) of fiscal year 2026, SanDisk reported that it ended the quarter with three signed New Business Model (“NBM”) agreements and signed two additional NBM agreements in the fiscal fourth quarter.These are multiyear contracts that improve revenue visibility.Analysts said they expect a majority of cloud and client-segment customers to eventually sign NBM agreements.Looking ahead, the team said they believe that Q4 fiscal year 2026 revenue and EPS will be $9.1 billion and $37.01, respectively. They noted that their estimates are higher than the Wall Street consensus, at $8.35 billion in revenue and $34.26 in EPS.Mohan reiterated a buy rating on SanDisk stock and raised the price target to $2,500 from $2,100, based on a 10x multiple.What do other analysts think, and how does Bank of America’s opinion compare? According to MarketBeat, 21 of the 25 analysts covering Sandisk stock rate it a buy. Four give a hold rating. The average price target is $1,684.24.Bank of America flags risks for Sandisk outlookMemory stocks are known for suffering from boom-and-bust cycles. The AI data center build-out and huge capital expenditure plans from hyperscalers have created an abnormally long boom part of the cycle for memory stocks.The team noted that oversupply could cause a sharp drop in NAND prices.Mohan wrote: “Some clients have expressed concern on long-term sustainability of memory demand if AI driven purchases are lower than expected.”Analysts said that a rapid ramp by China-based competitor Yangtze Memory Technologies (YMTC) could impact NAND pricing due to additional supply entering the market, adding that they believe YMTC will focus on the China market.More tech stocks:Bank of America resets Intel stock price targetMorgan Stanley resets Nvidia stock forecast after key eventBank of America resets Broadcom stock price target after earningsThe Department of War recently released a list of Chinese Military Companies in Accordance With Section 1260H. We can call this simply the Pentagon’s blacklist, and YMTC is on it.Bank of America’s view that YMTC will focus on the Chinese market makes even more sense, given that it is on that blacklist.However, the latest developments in the market, driven by the aggressive pricing of memory chips, might change that.

Micron’s Q3 FY26 GAAP gross margin was 84.6%, and for Q4, it expects 86%.Shutterstock

Memory cartel’s prices provoke Apple’s lobbyingJust like Sandisk has implemented NBM contracts, which are multiyear agreements, so has Micron (MU). Micron is the third-largest supplier of memory chips, and it has shifted its business model towards what it calls strategic customer agreements (SCAs).In a way, memory chip manufacturers are behaving like a cartel. Bank of America calls this “increasing supply-side discipline.”We can see the results from Sandisk’s Q3, which reported a GAAP gross margin of 78.4%, and it expects gross margin in the range of 78.9% to 80.9% in Q4. Micron’s Q3 FY26 GAAP gross margin was 84.6%, and for Q4, it expects 86%.These are incredible margins for hardware companies, but they are putting pressure on the non-AI part of the tech industry, prompting an unusual reaction.Apple is lobbying the Trump administration for clearance to buy memory chips from ChangXin Memory Technologies (CXMT), which is on the Pentagon’s blacklist.CXMT isn’t a threat to Sandisk, as it only makes DRAM, but if one company gets the Pentagon’s green light, that opens the door for YMTC.On top of this China problem, memory companies are ignoring the bigger issue: the macroeconomic effects of their pricing.High memory prices might be a one headwind too many for the AI bubbleThe AI bubble is already facing several headwinds.Tech writer and prominent AI skeptic Ed Zitron published leaked OpenAI’s audited financial statements, which were verified by the Financial Times. This revealed an impressive increase in OpenAI’s net loss, from $5.09 billion in 2024 to $38.53 billion in 2025.OpenAI is considering postponing its IPO until 2027, The New York Times reported.To make matters worse for OpenAI, the era of “tokenmaxxing” has ended. Or, to put it simply, many companies are capping their use of AI because it is too expensive.This has led OpenAI to consider drastically lowering its prices, according to the Wall Street Journal.An unprofitable company at the center of the AI bubble is delaying its IPO and considering lowering prices.After all the talk about demand for compute being sky-high, Meta has revealed it plans to launch a cloud infrastructure business to sell its excess capacity, Bloomberg reported.This is the second company with an “excess” supercomputer capacity. The first one was xAI, when it decided to rent Colossus 1 to Anthropic.Hyperscalers confirmed huge capital expenditures for this year. The surging prices of memory must be pushing them even higher.But if the companies aren’t willing to pay high costs of AI models, and the companies making these models are unprofitable, yet they are the ones that need the capacity, why is this capacity being built?Related: Bank of America resets Marvell stock price target

Patel loaded up on BTC-holder MSTR shares but failed to file a timely disclosure, according to a report by nonpartisan news outlet NOTUS.

Bitcoin climbed back above $60,000 for the first time in over a week after Fed Chair Kevin Warsh said inflation risks had come down. Solana led the majors, up about 16% on the week, while a semiconductor selloff hit Asian markets and dented the AI trade that has pulled capital from crypto all quarter.

Three championship matches headlined an action-packed episode of AEW Dynamite after the Forbidden Door pay-per-view.

TheStreet aims to feature only the best products and services. If you buy something via one of our links, we may earn a commission.Why we love this dealThere’s no device better suited for a productive day than a traditional laptop, but a smartphone is more convenient for everyday entertainment, whether you prefer to binge-watch shows on Netflix, stay connected with family on social media, or play irresistible mobile games. A tablet with a keyboard blends the best of both worlds, giving you a more spacious and easy-to-navigate touchscreen for your downtime needs while providing a better typing experience for work and school tasks.You don’t need to break the bank to add this handy electronic to your collection, because the Antemper 2-in-1 Tablet and Laptop is an extra 11% off with a weekly Flash deal at Walmart. At its regular price of $96, this device was a popular pick for its powerful performance and affordability, but it’s even more budget-friendly at just $85 now. The 10.1-inch Android 14 tablet would be a bargain on its own, but you’ll also get a Bluetooth keyboard, wireless mouse, stylus pen, protective case, and all the cords and cables you’ll need with this purchase, making it an unbeatable value.Antemper 2-in-1 Tablet and Laptop, $85 (was $96) at Walmart

Courtesy of Walmart

Shop at WalmartWhy do shoppers love it?The shopper-approved selection is backed by perfect five-star ratings from 68% of reviewers. One shopper who purchased it for the office loved how it has “everything you need all in one box,” which includes the 10.1-inch tablet and all the accessories you’d usually have to purchase separately. They added, “We bought six total, if that tells you what we think of them!”This two-in-one tablet and laptop gives you the superior functionality of a laptop without the high price tag. Running on the Android 14 operating system and equipped with a high-performance octa-core processor, it’s a reliable, powerful, and user-friendly device that offers access to your favorite apps, like Facebook, WhatsApp, Roblox, or YouTube. The 10.1-inch high-definition display offers crisp visuals with rich colors that bring movies and photographs to life. Additionally, you’ll enjoy a better viewing experience, as the tablet comes with eye-protection technology that filters out harmful blue light. Related: Amazon has a 2-in-1 laptop and tablet for just $60 that comes in 3 colors”Great processor, awesome picture quality, strong, sturdy build, and it handles mid-level games well too,” one shopper raved. Since the tablet comes built with 8 gigabytes (GB) of RAM and 128 GB of ROM, you’ll have no problem with basic tasks and switching between applications. Compared to other tablets, this one is just as impressive, with the reviewer reporting, “I have a Samsung as well, and it’s difficult to distinguish between the two.”Pros and cons of the $85 Antemper 2-in-1 tablet and laptopPros:It works as a mini laptop: By adding the Bluetooth keyboard to the tablet, you’ve essentially turned it into a mini laptop. It comes with everything you need. This electronics bundle comes with a tablet, keyboard, mouse, stylus, protective case, screen protectors, charging cable, and adapter.It’s an exceptional value: For just $85, you’ve got a full-functioning tablet that can be converted into a laptop for basic tasks.Cons:It’s not for advanced computing: While this tablet does come with more memory than many, it won’t have the power to work with large data files or perform advanced gaming.It’s a smaller tablet: It’s larger than your standard smartphone, but this tablet is on the smaller side.Shop more 2-in-1 tablet and laptop dealsAeezo 10.1-Inch Tablet and Keyboard Set, $76 (was $110) at WalmartTabureto Android 15 with Bluetooth Keyboard, $115 at WalmartHeadwolf 2-in-1 Android Tablet and Keyboard, $100 (was $200) at WalmartUpgrade your everyday electronics setup with the Antemper 2-in-1 Tablet and Laptop for just $85 at Walmart. The best Walmart Flash deals typically sell out, so don’t wait to secure this tablet and keyboard for yourself.

ENHYPEN are coming to San Diego Comic-Con to celebrate their webcomic and anime, ‘Dark Moon: The Blood Altar.’ Beyond the panel, there will be a booth and special show.