New York, February 3, 2026, 09:35 ET — Regular session underway
Shares of Sandisk climbed 4.3% to $694.20 in early Tuesday trading, following a strong 15.4% gain the day before. (Investing)
This shift is significant since memory and storage stocks now serve as a fast gauge of the AI data-center buildout’s impact on component supply. Investors are increasingly seeing Sandisk as a high-beta play on that trend, for better or worse.
The stock’s recent surge reflects trader debate over whether stronger demand is boosting prices and margins, or simply pushing up unit sales. This issue is fueling intense rotations within semiconductors and hardware sectors.
Sandisk reported a 61% jump in second-quarter revenue from last year, hitting $3.03 billion, according to its latest quarterly update. The company expects third-quarter revenue between $4.40 billion and $4.80 billion. It also projected non-GAAP diluted earnings per share between $12.00 and $14.00, excluding items like stock-based compensation. CEO David Goeckeler highlighted the quarter as proof of “our agility,” pointing to growing enterprise SSD deployments and a “structural reset” aimed at better matching supply with demand. (Sandisk)
Bernstein’s Mark Newman lifted his price target to $1,000 from $580 following the results, a note reported by Nasdaq.com shows. (Nasdaq)
The stock has tracked other memory and storage names closely. Mizuho raised price targets on Sandisk and rivals like Micron Technology, Western Digital, and Seagate Technology, citing a growing “supercycle” linked to AI servers and constrained supply, according to a Business Insider report. (Business Insider)
Most of the jargon centers on just two markets: DRAM, the working memory found in computers and servers, and NAND, the flash storage powering solid-state drives. When supply falls short of demand in either, prices can spike rapidly — and shares usually jump even sooner.
A filing with the U.S. Securities and Exchange Commission revealed the company submitted its results and outlook via a Form 8-K. (SEC)
Yet this trade can reverse. Memory cycles often shift after customers clear inventory or producers ramp up capacity. Early gains can disappear quickly if pricing weakens or major buyers pull back on orders.
Investors will be tuning in closely to the tone from the biggest AI infrastructure spenders. Alphabet reports earnings on Feb. 4, with Amazon set to follow on Feb. 5. Traders watch these events closely for hints on cloud demand and data-center expansion plans. (Alphabet Investor Relations)
