New York, January 8, 2026, 16:11 EST — After-hours
Sandisk Corp shares fell 5.4% in Thursday’s regular session to $334.54 and ticked up 0.3% after hours, after a volatile day that saw the stock swing between $310.78 and $360.98.
The pullback hit a trade that has turned Sandisk into a proxy for AI-linked memory and storage demand, with investors betting data centers will need more flash chips and solid-state drives (SSDs), the flash-based storage used in PCs and servers. Western Digital slid about 6%, Seagate fell nearly 8% and Micron lost about 4%, while Nvidia eased about 2%.
It also came as the broader tech sector sagged, with investors more selective after a sharp run in AI-related stocks. “While AI is still hot, there are going to be winners and losers,” said Art Hogan, chief market strategist at B. Riley Wealth. “It’s become a ‘show me’ sector.” Reuters
Sandisk’s run earlier this week was turbocharged by comments at CES from Nvidia Chief Executive Jensen Huang that revived the market’s focus on storage as an AI bottleneck. Morningstar analyst William Kerwin, in emailed comments, said Nvidia’s discussion of a new memory-storage platform “would add more SSD storage to AI infrastructure to improve model speed.” Barron’s
Bank of America Securities on Wednesday raised its price target for Sandisk to $390 from $300 and kept a buy rating. A price target is an analyst’s estimate of where a stock could trade over the next year; BofA argued new AI system designs could lift NAND flash’s role in data-center builds and said strong pricing could drive upward earnings revisions.
Sandisk became an independent public company in February 2025 after completing its separation from Western Digital and listing on Nasdaq under the symbol SNDK.
The next company catalyst is its fiscal second-quarter results on Jan. 29, when Sandisk is scheduled to hold an earnings call at 1:30 p.m. Pacific (4:30 p.m. ET).
But memory markets have a habit of turning fast. Even with pricing strong now, any sign that supply is catching up — or that AI spending is shifting — can knock down estimates and shrink the room for error in high-flying storage names.
Before that, traders will look to Friday’s U.S. employment report for the next read on rates and risk appetite. The Bureau of Labor Statistics is scheduled to publish the December jobs report at 8:30 a.m. ET on Jan. 9, ahead of Sandisk’s Jan. 29 earnings update.
