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C J Muse

Senior Managing Director and Senior Equity Research Analyst at Tanner Fitzgerald

C J Muse is a Senior Managing Director and Senior Equity Research Analyst at Cantor Fitzgerald, specializing in the semiconductor and broader technology sectors. He actively covers leading companies including Nvidia, Advanced Micro Devices, Applied Materials, Lam Research, Micron, and Western Digital, with a strong performance record—ranking in the top 1% of Wall Street analysts, producing a 70% success rate and an average return of over 37% per rating according to TipRanks. Muse began his equity research career at Lehman Brothers, then held senior analyst roles at Barclays Capital and Evercore ISI, and joined Cantor Fitzgerald after more than 20 years in the industry. He holds a B.S. in finance from Georgetown University, an MBA in finance from Columbia Business School, and is regarded for deep sector insight and award-winning research, including top rankings by Institutional Investor.

C J Muse's questions to Sandisk (SNDK) leadership

Question · Q1 2026

C.J. Muse asked about the evolution of customer engagement in an allocation environment, drawing parallels to the HD world's shift to long-term agreements, and inquired about Sandisk's visibility and bit allocation strategy. He also sought clarity on bit shipment growth opportunities for calendar years 2025 and 2026, considering current inventory levels and the BiCS8 ramp.

Answer

Chairman and CEO David Goeckeler noted two phases of customer engagement: multi-quarter deals for supply certainty and proactive discussions extending to calendar year 2027 for long-term demand alignment, especially from Data Center customers. EVP and CFO Luis Visoso added that Sandisk prioritizes strategic customers for bit allocation and aims to maintain market share while growing the Data Center business through innovation like BiCS8, with capital plans supporting mid to high teens long-term demand growth.

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Question · Q1 2026

C.J. Muse asked about the evolution of customer engagement and the emergence of long-term agreements (LTAs) in the NAND market, similar to trends seen in the HD world. He also inquired about SanDisk's visibility, bit allocation strategies, and bit shipment growth opportunities for calendar years 2025 and 2026, considering current inventory levels and the BICS8 ramp.

Answer

Chairman and CEO David Goeckeler noted two phases of customer engagement: multi-quarter volume and price deals for certainty of supply, and proactive outreach from large data center customers seeking visibility and supply alignment through calendar year 2027. He emphasized that this is a welcome development for long-term CapEx decisions. EVP and CFO Luis Visoso added that SanDisk prioritizes strategic customers for allocation, focusing on growth and value creation, and aims to maintain market share while expanding in the data center segment through innovation like BICS8.

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C J Muse's questions to ADVANCED MICRO DEVICES (AMD) leadership

Question · Q3 2025

C J Muse asked for a gross margin framework for calendar year 2026, considering the MI355 to MI400 transition and the shift towards full rack-scale solutions. He also sought more detail on AMD's growth expectations through 2026 and beyond, specifically regarding the breadth of customer penetration for OpenAI and other large customers, aiming for tens of billions in 2027.

Answer

Jean Hu, EVP, CFO, and Treasurer, stated that data center GPU gross margins typically improve with new product ramps after an initial transition, with a focus on expanding top-line revenue and gross margin dollars. Dr. Lisa Su, Chair and CEO, reiterated excitement for the roadmap and strong traction with major customers like OpenAI and OCI, confirming deep engagements with multiple customers expected to achieve significant scale in the MI450 generation.

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