New York, January 8, 2026, 11:05 AM EST — Regular session
- Sandisk shares fall about 11% in volatile trade after a sharp CES-linked run-up
- Bank of America raises its price target to $390, pointing to AI storage demand
- Focus shifts to Friday’s U.S. jobs report and Sandisk’s Jan. 29 earnings call
Sandisk Corporation shares were down about 11% at $315.04 in late morning trade, after closing at $353.56 on Wednesday. The stock opened at $360.91 and swung between $313.29 and $363.74, as a pullback hit storage and memory names across the tape.
The drop lands just days after investors rushed into the group on Nvidia CEO Jensen Huang’s comments at CES about AI’s demand for memory and storage hardware. Huang called AI-specific storage and memory “a completely unserved market today,” Investopedia reported. Investopedia
Bank of America Securities added fuel on Wednesday, raising its price target on Sandisk to $390 from $300 while keeping a Buy rating. The firm tied the call to CES disclosures around Nvidia’s next platform and the way new AI systems may lean more heavily on storage to boost performance.
BofA analyst Wamsi Mohan wrote that NAND memory — a type of flash used in solid-state drives — is “becoming a more important tier in AI inferencing,” the work of running trained AI models in production. He said demand remained “strong and pricing robust,” citing TrendForce data that points to NAND price gains of 20%–30% quarter-on-quarter in the December period, followed by another rise in early 2026. Investing.com
But the sprint has also revived warnings that the stock has moved faster than fundamentals. The Financial Times said some analysts saw the surge as excessive and driven in part by short squeezes, when investors betting against a stock rush to buy it back as it rises.
Macro could add another layer of volatility. The U.S. employment report for December is due on Friday at 8:30 a.m. ET, and rate-sensitive growth stocks often react sharply to shifts in yield expectations.
Next up for Sandisk is earnings. The company has scheduled its fiscal second-quarter results conference call for Jan. 29 at 1:30 p.m. Pacific time, after the U.S. cash close, with investors looking for fresh reads on NAND pricing, enterprise SSD demand and how long the AI-driven storage surge can last.
