NEW YORK, July 21, 2026, 6:10 a.m. EDT
Shares of Sandisk rose 7.6% to $1,496.33 ahead of Tuesday’s market open. The stock’s two-day recovery recouped just 25.2% of last week’s loss per share.
The U.S. cash equities market was shut, while premarket trading was active. Sandisk finished Monday at $1,390.95, a gain of 2.7%.
The stock declined by 29.3% between July 10 and Friday. As of Tuesday’s suggested level, it was still 21.9% lower than on July 10.
Losses were notably severe, with the PHLX Semiconductor Index dropping approximately 10% over the past week.
The recovery extended to other companies in memory and storage as well.
| Company | Monday close | Tuesday premarket | Premarket move | Trailing P/E |
|---|---|---|---|---|
| Sandisk NASDAQ:SNDK | $1,390.95 | $1,496.33 | up 7.58% | 48.35x |
| Western Digital NASDAQ:WDC | $487.42 | $521.39 | up 6.97% | 29.11x |
| Micron Technology NASDAQ:MU | $865.46 | $916.75 | up 5.93% | 19.59x |
| Seagate Technology Holdings NASDAQ:STX | $802.45 | $842.00 | up 4.93% | 76.10x |
Premarket figures were noted at approximately 6:10 a.m. EDT. P/E ratios reflect trailing metrics.
Sandisk was the top performer in premarket trading on Tuesday. Its price-to-earnings ratio stood at 2.5 times that of Micron and exceeded Western Digital’s by 66%. Seagate continued to trade at a higher valuation.
Morgan Stanley NYSE:MS analysts described the recent decline as a “strong entry point.” Joseph Moore noted that this cycle is capable of generating “false flag” signals. Investopedia
The bank’s initial projection indicates that memory prices in the third quarter are at minimum 25% higher compared to the second quarter. Moore noted that shortages in data centers continue without relief.
The argument is supported by the earnings figures. Sandisk posted fiscal third-quarter revenue of $5.95 billion and an adjusted EPS of $23.41. Revenue from data centers climbed 233% compared with the prior quarter.
Sandisk entered into five long-term agreements, three of which total $42 billion. The company has approved a $6 billion share repurchase plan. “The bane of this industry has been the boom-bust cycle,” CEO David Goeckeler said in April. Reuters
Sector updates continue this week, with Alphabet NASDAQ:GOOGL set to report on Wednesday and Intel NASDAQ:INTC on Thursday. Investors are expected to look for any indications regarding spending on AI infrastructure.
Sandisk will announce its fiscal fourth-quarter earnings on August 5, with an Investor Day scheduled for August 13.
NAND pricing and AI-related expenditures continue to be the primary risks. Increased capacity and extended contracts might limit price growth. Changes in customer designs could further impact memory content.
Currently, the rebound is genuine, but it does not represent a complete reversal.
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