New York, Jan 20, 2026, 16:34 EST — After-hours
- Sandisk shares jumped roughly 9.6% to $453.12 in after-hours trading following a volatile session on Tuesday.
- Citi lifted its price target sharply, from $280 to $490, citing strong demand for data centers and a constrained supply.
- Investors are zeroing in on Sandisk’s Jan. 29 results, hunting for clues on pricing trends and demand for enterprise SSDs.
Shares of Sandisk Corp (SNDK.O) surged nearly 10% Tuesday, defying a wider market downturn, after Citigroup lifted its price target on the memory firm.
Citi raised its price target on Sandisk to $490 from $280, maintaining a buy rating. The firm pointed to robust data-center demand and balanced supply conditions as key drivers. This new target suggests an 18.5% gain from Sandisk’s last closing price. According to LSEG data, 22 analysts have the stock rated “buy,” with a median price target of $300. Since its Nasdaq debut in February 2025, shares have surged roughly 11.5 times, LSEG figures show. (Boursorama)
This is crucial now as storage prices can shift quickly, with investors increasingly viewing the stock as a high-beta indicator for whether AI-driven data-center expansions continue to strain memory supply.
The rest of the tape moved in the opposite direction. The S&P 500 slipped roughly 2%, while the Nasdaq declined about 2.4%, as investors reacted to fresh tariff threats linked to President Donald Trump’s remarks on Greenland. “I’m not at the point yet,” said Jamie Cox, managing partner at Harris Financial Group, when asked if the situation might trigger a broader equity sell-off. (Reuters)
Sandisk climbed 9.6% to $453.12 in late trading, following a session range of $392.91 to $457.00.
Citi highlighted Sandisk’s “competitive moat” — a term for an edge tough for competitors to replicate — as a key factor that should boost its share in enterprise solid-state drives, or SSDs deployed in data centers.
Peers showed less movement. Micron Technology (MU.O) edged up roughly 0.6%, Western Digital (WDC.O) climbed near 0.7%, while Seagate Technology (STX.O) held steady.
Sandisk designs and markets storage products based on NAND flash memory chips, which are used in SSDs and removable cards. The company serves cloud, client, and consumer markets, according to its profile on Reuters. (Reuters)
But the risks cut both ways. If spending on data centers slows or suppliers ramp up capacity, NAND prices could drop, pressuring margins. Tariff-related expenses add another layer of uncertainty. Morgan Stanley flagged a “perfect storm” brewing in IT hardware, citing slowing demand, input cost inflation, and stretched valuations. (Reuters)
Sandisk’s fiscal second-quarter results drop Jan. 29, followed by an earnings call at 4:30 p.m. EST. Traders will zero in on updates about pricing, supply discipline, and demand for enterprise SSDs. (Sandisk)
