New York, Jan 7, 2026, 07:32 EST — Premarket
- Sandisk (SNDK) down 0.8% in premarket after closing at a record $349.63
- Storage and memory stocks rallied on Nvidia’s CES comments on AI infrastructure needs
- Bank of America raised its Sandisk price target to $390; earnings due Jan 29
Sandisk Corp shares edged down 0.8% to $346.79 in premarket trading on Wednesday, after ending the prior session at a record $349.63. 1
The stock’s pullback comes a day after Sandisk closed up 27.6%, its biggest one-day gain in months, in a broad rush into data-storage and memory names. The shares traded between $288.50 and $352.00 on Tuesday, company data showed. 2
Investors have been chasing the theme that artificial intelligence will not just lift chip demand but also the plumbing around it — including solid-state drives, or SSDs, which store data using flash memory. Nvidia’s CES keynote included a new storage layer it called “context memory storage,” as it detailed the next generation of chips it said are in full production. 3
The rally spilled into peers on Tuesday. Western Digital and Seagate both jumped sharply as traders treated the group as a proxy for AI-related storage demand, according to market commentary. 4
Bank of America Securities added fuel early Wednesday, lifting its price target on Sandisk to $390 from $300 and keeping a buy rating, Investing.com reported. 5
The backdrop is a market already primed to believe in tighter memory supply. Reuters reported on Monday that investors have been betting on further price gains amid a supply crunch tied to AI infrastructure, while also warning the memory business can swing hard as supply and demand shift. 6
Still, the trade is not one-way. Morningstar analyst William Kerwin said Nvidia’s CES messaging likely drove the move, adding that it could mean “more SSD storage to AI infrastructure to improve model speed,” while cautioning that elevated memory pricing can normalize over time. 7
Next up is Sandisk’s own update. The company is scheduled to report fiscal second-quarter results on Jan. 29, with investors watching for guidance on pricing, margins and how much AI-related demand is landing in actual orders. 8
