New York, January 26, 2026, 10:03 EST — Regular session
- SanDisk shares fell about 1.5% in morning trade, lagging gains in some storage peers.
- Morgan Stanley and Cantor Fitzgerald lifted price targets on the stock in Monday research notes.
- Investors now turn to SanDisk’s Jan. 29 results for clues on flash-memory pricing and guidance.
SanDisk shares were down about 1.5% at $466.69 on Monday morning, after swinging between $454.79 and $478.69 earlier in the session.
The dip lands after a sharp run that has left the stock trading on expectations, not patience. With earnings due this week, even small shifts in outlook can move the price fast.
Two bullish calls hit the tape before the bell. Morgan Stanley raised its price target on SanDisk to $483 from $273 and kept an “Overweight” rating, while Cantor Fitzgerald lifted its target to $550 from $300 and also reiterated “Overweight,” MT Newswires reported. Asktraders said the Morgan Stanley note leaned on stronger assumptions for NAND pricing, the flash-memory component that sits at the core of SanDisk’s products. (MarketScreener)
SanDisk’s move ran against parts of its neighborhood. Western Digital rose about 5.3% and Seagate gained roughly 5.5%, while Micron slipped about 2.2%.
The company is slated to report fiscal second-quarter results on Thursday, Jan. 29, and will host an earnings conference call at 1:30 p.m. Pacific time, it said. (Sandisk)
SanDisk began trading as a stand-alone company in February 2025 after completing its separation from Western Digital, the company said at the time. (Sandisk)
What matters now is the setup: investors want to hear whether pricing for NAND flash (a type of memory chip used in solid-state storage) is holding up, and whether demand tied to data centers and enterprise solid-state drives is still strong enough to justify the stock’s premium.
There is also a simpler force at work: crowding. A stock that has moved this much can fall on nothing more than traders taking money off the table.
But the risk runs both ways. If management’s forecast disappoints, or if comments hint at easing supply tightness and softer pricing, the stock could see another hard downdraft.
The next catalyst is Thursday’s results and the guidance that follows, with investors parsing every line on demand, pricing and the company’s view of the next quarter.
