New York, Jan 21, 2026, 10:09 AM EST — Regular session
- Sandisk shares jumped about 3% in early trading, extending their gains from Tuesday
- Citi raised its price target for Sandisk to $490, citing strong cloud demand and improved pricing.
- All eyes are on the Jan. 29 earnings report for hints about NAND pricing and data-center demand
Sandisk Corp shares rose 3.1% to $467.10 Wednesday morning, buoyed by gains across the storage and memory sector. Western Digital advanced 3.7%, Micron Technology added 4.2%, and Seagate inched up 0.2%.
Sandisk’s offer comes ahead of its fiscal second-quarter results, set for release on Jan. 29, with an earnings call planned that day. Investors are eager for fresh insight into NAND flash memory—the key component in SSDs and other storage gear—after the sector’s strong January rally.
Citi kept the momentum going with its latest note, raising the price target from $280 to $490. The boost comes from “solid hyperscaler demand supporting higher pricing” in its 2026 outlook for tech hardware—hyperscalers being the biggest cloud-data-center operators. Analyst Asiya Merchant pointed out that Sandisk “sounded the most constructive” during CES discussions on NAND fundamentals, with potential gains linked to data center growth and demand for Nvidia’s Vera Rubin platform. Investopedia
Sandisk ended Tuesday at $453.12, after hitting an intraday peak of $457.37, based on the company’s historical price data.
TipRanks noted the stock jumped 9.5% Tuesday, adding about 1% in after-hours action. Citi still has Sandisk on its short-term upside watch list ahead of the Jan. 29 earnings report, but is now pointing to Western Digital and Seagate as possible alternatives after Sandisk’s surge.
In February 2025, Sandisk made its return to the public markets after separating from Western Digital, starting to trade on Nasdaq under the ticker SNDK.
This trade could reverse fast. Memory prices move in cycles, and a lot of the optimism has already been priced in following the steep rally.
Any hint that NAND prices are easing—or that cloud customers are slowing their capacity expansion—could trigger profit-taking, especially if guidance disappoints.
Investors want clear details on pricing and customer inventory, along with any outlook on supply constraints lasting into the second half. Even small shifts in production discipline will be scrutinized.
January 29 brings the next challenge: earnings, outlook, and the state of demand from data-center clients.
