New York, Feb 3, 2026, 16:31 EST — After-hours
- Shares of Sandisk climbed 4.5% to $695.36 in after-hours trading, moving within a range of $647.50 to $712.93 earlier.
- Bernstein kicked off a new wave of price-target increases, putting SNDK back in the spotlight.
- Traders are eyeing NAND flash prices closely, tracking how Sandisk’s optimistic Q3 forecast plays out.
Sandisk shares climbed 4.5% to $695.36 in after-hours on Tuesday, staying close to the session’s peak after a volatile day. Volume topped 30 million shares, with prices swinging between $647.50 and $712.93.
The recent jump is significant since Sandisk has become a popular pick for AI-driven storage demand, prompting brokers to push target prices up quickly. In this crowded trade, even small changes in pricing or supply talk can shake the stock badly.
Investors are zeroing in on NAND flash — the storage memory powering solid-state drives — wondering if tight supply will let Sandisk raise prices and boost margins. The stock’s volatility shows the market is still weighing how long this demand surge might last over the coming quarters.
Bernstein SocGen Group lifted its price target on the stock to $1,000 from $580 on Monday, maintaining an Outperform rating. Mark C. Newman highlighted a “significant beat and guide” alongside a “very strong pricing environment.” Cantor Fitzgerald, Mizuho Securities, and Jefferies also bumped up their targets. (Investing)
Sandisk’s rally stems from a reset in expectations following its recent results and outlook. Investors have focused more on pricing dynamics than on volume growth for now.
In its latest earnings report, the company posted fiscal second-quarter revenue of $3.03 billion, marking a 31% jump from the previous quarter, with non-GAAP earnings of $6.20 per share. (Non-GAAP excludes items like stock-based compensation.) Sandisk highlighted a 64% sequential surge in data center revenue and projected fiscal third-quarter revenue between $4.40 billion and $4.80 billion, with non-GAAP earnings forecasted at $12 to $14 per share. The Nasdaq-listed company also confirmed it completed its split from Western Digital in February 2025. (SEC)
The company and Japan’s Kioxia have pushed their supply deal out to 2034, a recent report shows. Investors are also eyeing rivals like Seagate Technology and Micron Technology, betting on who will profit from constrained memory supplies and a surge in AI infrastructure spending. (Reuters)
But the setup works both ways. Sandisk’s guidance and the updated price targets rest on the assumption that pricing remains unusually strong; if supply loosens or demand cools, margins could tighten fast in a market driven by expectations.
Macro factors might shake up the next session as well. The Bureau of Labor Statistics announced the January U.S. jobs report won’t drop on Friday as planned due to the partial government shutdown. They’ll share a new release date once funding returns. (AP News)
Traders will be eyeing new broker notes and updated NAND pricing checks closely to judge if Sandisk’s rally can stay above $700. Meanwhile, any news on the delayed jobs report’s release date could shake up rate-sensitive growth stocks, including high-flyers like SNDK.
