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Flash memory storage vendor SanDisk Corp. (SNDK - Analyst Report) recently announced that it was enhancing its solid state drive (SSD) line-up for businesses with the new SanDisk X210 SSD. This SATA-based X210 SSD is an ideal solution enhancing the performance of data centers and client computing devices.

The new product offering will help the company expand its SSD product profile. This will also help in the addition of new customers, which in turn will increase its customer base and help in garnering additional market share.

The X210 SSD is an exceptionally fast and cost-effective storage solution to the SanDisk SSD profile. It provides up to 512GB of storage and offers up to 505MB/sec sequential read and up to 470MB/sec sequential write speeds.

Apart from this, the company announced that it has entered into a worldwide, exclusive agreement with Diskeeper Corp. to license its caching software for SSDs. SanDisk's innovations in flash memory and storage system technologies have provided customers with new and transformational digital experiences.

Recently, at its analyst day, SanDisk provided its growth expectations for the SSD market. Accordingly, the company expects the SSDs to grow to around 35% of its sales by 2016. The company also expects total SSD contribution to be 25.0% of total revenue in 2014. With SMART (which specializes in providing SATA and SAS-based SSDs), SanDisk expects to strengthen its position in the enterprise SSD storage market (both SAS and SATA). In the recently concluded fourth quarter, SanDisk witnessed strong demand for its X210 SSD.

SanDisk Corporation is the largest supplier of flash storage card products based on NAND technology. SanDisk Corporation (SNDK - Analyst Report) is a global leader in flash memory storage solutions, from research and development, product design and manufacturing to branding and distribution for commercial and retail channels.

We believe that the synergies from the launching of X210 SSD will help SanDisk to emerge as a major player in the fast growing market, thus lending greater stability to its revenue stream.

But near-term visibility, lackluster PC sales, European issues and currency fluctuations are headwinds.

Currently, SanDisk holds a Zacks Rank #1 (Strong Buy). Investors may also consider other stocks like Micron (MU - Analyst Report), Semiconductor Manufacturing International(SMI - Snapshot Report) and Quantum Corp (QTM - Snapshot Report). While Semiconductor Manufacturing and Quantum carry a Zacks Rank #1, Micron carries a Zacks Rank #2 (Buy)

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