New York, Jan 28, 2026, 13:35 EST — Regular session
- Sandisk shares climbed sharply as storage and memory stocks rallied in midday trade.
- Seagate’s upbeat outlook kept the spotlight on AI-driven data-center demand for storage.
- Traders are positioning for Sandisk’s fiscal second-quarter results due Thursday.
Shares of Sandisk Corp (SNDK) rose 8.5% to $522.41 on Wednesday, after touching $529.00 earlier in the session. Seagate Technology jumped 20.1%, Western Digital gained 11.6% and Micron Technology added 5.8%.
The move came after Seagate forecast quarterly revenue and profit above Wall Street expectations, driven by demand for data storage devices as companies expand artificial-intelligence capacity. Chief Executive Dave Mosley pointed to demand for “performance and cost-effective, large-scale storage” in modern data centers, Reuters reported. (Reuters)
Sandisk’s own numbers are next. The flash-memory maker is scheduled to report fiscal second-quarter results on Thursday and hold an earnings call at 1:30 p.m. Pacific time. (Sandisk)
Expectations are already stretched. Sandisk has gained more than 1,000% in the past six months, taking its market value to about $69 billion, and StarMine’s SmartEstimate of $3.48 a share tops the $3.33 consensus, according to LSEG’s Tajinder Dhillon. SmartEstimate gives extra weight to analysts who have been more accurate and timely; Dhillon called it a “parabolic nature of growth expectations” and pointed to datacenters overtaking mobile as the biggest NAND end market — NAND is a type of flash memory used in solid-state drives and phones. (Lipper Alpha Insight)
Traders also got a new way to play the move. Tradr ETFs said it launched a leveraged fund, the Tradr 2X Long SNDK Daily ETF (SNXX), which aims to deliver 200% of Sandisk’s daily move and resets every day. “Both Sandisk and Western Digital have experienced massive positive momentum since last summer,” said Matt Markiewicz, Tradr’s head of product and capital markets. (Nasdaq)
Sandisk separated from Western Digital in February 2025 and began trading on Nasdaq under SNDK, the company said. Chief Executive David Goeckeler said then that “NAND is an incredible enabler.” (Sandisk)
But expectations are steep, and big moves cut both ways. “There could be some volatility in some names this earnings season depending on their results,” Anna Rathbun, founder and CEO of Grenadilla Advisory, said in a Reuters video segment. (Reuters)
The next catalyst comes Thursday, when Sandisk reports results and hosts its earnings conference call at 1:30 p.m. Pacific time. Investors will be listening for guidance on flash pricing, datacenter volumes and margins — and any hint that the supply squeeze is easing. (Business Wire)
