Let me ask you a question: Why did SNDK SKHY put a high position of positive news? I believe that SKHY's repurchase can support the expectations of the sector, but it is not enough to immediately restore SNDK's unilateral main rise. After the rebound, storage stocks are more likely to enter high volatility, and individual stocks will further differentiate. SNDK previously added $14 billion in repurchase authorization and subsequently announced high growth, high profit margin, and cash return targets, while SKHY launched approximately $28.6 billion in repurchases, planned to be executed within three months and cancel approximately 3.3% of its shares. Both companies are releasing buyback benefits as their stock prices soar and the market begins to worry about the sustainability of AI investment. The market will interpret this as a statement that the companies are willing to stabilize their valuations with real money and have confidence in future cash flows. However, repurchase is not a panacea. It can reduce the number of outstanding shares and increase the value per share, but it cannot solve the risks of high US bond yields, slowing AI capital expenditures, and peak storage prices. Among the two stocks, I am more optimistic about SKHY's mid-term commitment. It has HBM orders, actual cash flow, and a clear repurchase plan, providing more solid support. SNDK benefits more from sector mapping and NAND price expectations, with greater elasticity when rising and easier to rise and fall when emotions ebb. SKHY is more like providing a floor for the sector, while SNDK is responsible for amplifying volatility. The storage market cannot be said to be over yet, but the most profitable period may have passed. Whether the stock price can still rise in the future depends not only on the repurchase scale, but also on whether orders, prices, and profits can continue to be fulfilled.