New York, Feb 4, 2026, 09:32 EST — The regular session is underway.
Sandisk Corp shares jumped roughly 4.5% to $695.51 in early Wednesday trading, extending a choppy rally that’s attracted both momentum traders and longer-term investors. Early volume hit around 808,000 shares.
This matters because Sandisk has become a high-beta stand-in for AI-driven data-center storage demand. When it shifts, the broader memory-and-storage sector often follows—sometimes up, sometimes down.
Investors wrestle with a moving target: how long NAND prices — the flash memory found in solid-state drives — will hold steady before fresh supply and weaker demand weigh them down.
On Tuesday, Business Insider highlighted what it described as a fresh “memory supercycle,” citing IDC’s Mario Morales who warned of an “unprecedented memory chip shortage” as demand outstrips supply. The report mentioned Sandisk’s message to investors, saying customer demand is expected to remain “well above supply” beyond 2026. Analysts at William Blair and Mizuho also flagged tight supply combined with stronger pricing as a boost extending into 2027. (Business Insider)
Last week, Sandisk posted fiscal second-quarter revenue of $3.025 billion and non-GAAP earnings of $6.20 per share. The company expects fiscal third-quarter revenue between $4.4 billion and $4.8 billion, with non-GAAP profit projected at $12 to $14 per share. CEO David Goeckeler described the firm’s “structural reset” aimed at matching supply with “attractive, sustained demand,” setting the stage for “disciplined growth.” (Sandisk)
During the same update, Sandisk extended its crucial flash supply deal with Japan’s Kioxia through 2034, Reuters reported. Several brokerages also bumped up price targets after the company’s forecast beat expectations by a wide margin. The surge has lifted peers like Micron, Seagate, and former parent Western Digital, though traders have taken a mixed approach to these names on a daily basis. (Reuters)
That said, the setup works both ways. The stock’s major swing factor doubles as a risk: signs that cloud or enterprise spending dips, or NAND prices drop quicker than anticipated, could quickly undermine the lofty profit expectations baked into current forecasts.
Timing remains uncertain. Even if the “shortage” story sticks, memory markets are cyclical. Capacity can ramp up fast when incentives grow, especially as competitors scale and customers resist contract price hikes.
Investors are now eyeing the upcoming earnings report and any new updates on pricing and supply dynamics. According to a calendar from Trendlyne, Sandisk is set to report next on May 7, 2026. At that point, management will need to justify the outlook that demand will continue to outpace supply through 2027. (Trendlyne)
