New York, February 2, 2026, 11:16 EST — Regular session
- Shares of Sandisk jumped in early trading after a series of analyst upgrades came on the heels of a strong outlook.
- Bernstein raised its price target to $1,000, pointing to strong pricing and demand momentum in flash storage.
- Traders are tracking NAND pricing signals alongside Friday’s U.S. jobs report.
Sandisk shares jumped 13.3% to $653.05 in early Monday trading, hitting a high of $663.60, following a steep climb from Friday’s close at $576.25. Bernstein SocGen Group boosted its price target on Sandisk (Nasdaq: SNDK) to $1,000 from $580, maintaining an Outperform rating. (Investing)
This matters because investors see the stock as a signal for the shifting NAND market. NAND flash, the memory behind solid-state drives, is tightening up again amid rising data-center demand and firmer prices.
Sandisk’s stock has surged over 1,500% in less than a year, driven by robust demand from AI data centers and enterprise clients, according to tech site Tom’s Hardware. The report highlighted solid sales gains in both datacenter and enterprise segments, along with a consumer demand rebound. (Tom’s Hardware)
Raymond James raised its rating to outperform and slapped on a $725 price target following the earnings release. Analyst Melissa Fairbanks described it as “one of the most delayed upgrades in history.” The stock extended its gains on Friday, according to MarketWatch. (MarketWatch)
Sandisk projected third-quarter revenue between $4.40 billion and $4.80 billion last week, following second-quarter sales of $3.03 billion. The company expects non-GAAP earnings of $6.20 per share. CEO David Goeckeler highlighted the firm’s “critical role … in powering AI,” citing a stronger product mix and faster enterprise SSD rollouts. (Sandisk)
Sandisk and Kioxia Corporation have extended their joint venture agreements through 2034, announcing that Sandisk will pay $1.165 billion for manufacturing services in installments from 2026 to 2029. Nobuo Hayasaka highlighted the deal’s role in supporting the “transformation of a digital society powered by AI.” (Sandisk)
The memory cycle remains tight but is prone to swift shifts. Sandisk faces off against Micron Technology, Samsung Electronics, and SK Hynix in the NAND market, leaving investors to weigh how long pricing power will last.
But the surge leaves almost no margin for error. Any slowdown in cloud spending, a supply boost coming faster than predicted, or softer pricing could slam margins and send the stock tumbling as fast as it rose.
Traders now shift focus to Friday’s U.S. employment report — the nonfarm payrolls data known for shaking up rates and growth stocks — set for release Feb. 6 at 8:30 a.m. ET by the U.S. Bureau of Labor Statistics. (Bls)
