NEW YORK, April 6, 2026, 12:07 EDT
Sandisk jumped another 2.8% to $720.90 late Monday morning in New York, sidestepping broader market jitters as traders continued to pile into storage and memory stocks linked to artificial intelligence. The S&P 500 inched up just 0.2%. Reuters
The benchmark index is reeling from its roughest quarter since 2022—dragged down by the Iran conflict, a surge in oil prices, and evaporating optimism over Fed rate cuts. Sandisk’s rally stands out: investors aren’t shying away from the AI hardware play, even while nerves linger across the rest of the market. Reuters
Looks like the core Sandisk story is still holding up, even after last week’s sharp drop in memory shares. Mizuho’s Vijay Rakesh is telling clients to “buy the TurboQuant memory pullback”—that’s following concerns that Google’s TurboQuant data-compression tech might hit chip demand. Morgan Stanley’s Joseph Moore, though, argued the group is “more durable than the market thinks.” Barron’s
Sandisk’s surge remains rooted in its latest earnings. On Jan. 29, the company reported fiscal second-quarter revenue up 61% year over year to $3.03 billion. Datacenter sales, boosted by demand from AI infrastructure builders snapping up more enterprise SSDs—those solid-state drives for servers—jumped 64% from the prior quarter. Sandisk
The company projected third-quarter revenue between $4.4 billion and $4.8 billion, with adjusted earnings per share coming in at $12 to $14—both topping what analysts had penciled in. CEO David Goeckeler pointed to “accelerating enterprise SSD deployments” and firmer demand as key drivers this quarter. Sandisk
Supply visibility has been a draw. Sandisk and Kioxia are keeping their Yokkaichi joint venture running through 2034. Under the extended agreement, Sandisk will put up $1.165 billion for manufacturing services and ongoing supply. Kioxia CEO Nobuo Hayasaka noted the arrangement secures stable output for advanced 3D flash memory. Sandisk
Buyers snapped up shares across the board Monday. Micron picked up 3.8%, Western Digital tacked on 4.0%, and Seagate surged almost 6%. That extra bump for Seagate followed a Morgan Stanley call, which put the stock at the top of its list—signaling that AI and cloud-related storage stocks are still in favor. Reuters
There’s a structural angle here, not only a cyclical one. Sandisk spun back onto Nasdaq in February 2025 after breaking away from Western Digital. Trefis noted this month that the move lets investors price the flash-memory operation directly, instead of as a slice of a bigger storage conglomerate. Sandisk
The trade isn’t a one-way street. According to Citi data cited by Investopedia, spot prices for DRAM—those are the memory chips used for active data—are down 6% since mid-March. Investors are still hashing out whether improved AI efficiency or increased industry capex will eat into pricing power. Meanwhile, U.S. crude stayed north of $110 a barrel on Monday, with traders showing no sign of pricing in Fed cuts this year. Investopedia
Investors are picking their spots for risk at this stage. “Wall Street was betting that the outcome is positive,” said Sam Stovall of CFRA. On the other hand, Robert Pavlik at Dakota Wealth pointed out that the market is still “on edge” until there’s a concrete Middle East deal — a standoff that hasn’t derailed Sandisk’s momentum yet. Reuters
