New York, Feb 6, 2026, 09:55 EST — Regular session
- Sandisk shares climbed roughly 4.4% to $601.55 in early trading, rebounding from a steep drop earlier this week
- Traders link the swing to positioning tied to AI-driven storage demand amid tight supply
- Investors are eyeing new analyst updates and signs on memory pricing as next week approaches
Shares of Sandisk Corp climbed Friday, boosting the Nasdaq-listed stock following a turbulent week that challenged momentum buyers.
This move is significant because Sandisk now serves as a bellwether for the “AI storage” sector — a crowded market niche where even minor changes in demand or supply chatter can quickly shift prices.
The stock climbed 25.35 points to $601.55, after swinging between $568.30 and $623.28 earlier in the session, per market data.
Sandisk has dropped over 20% since hitting a peak close to $725 on Feb. 3, despite a rally that attracted short-term traders. “Most of the AI-driven demand is now priced in,” Matt Caruso of Caruso Insights noted in a report shared by Investor’s Business Daily. Investors.com
Having spun off from Western Digital, the company re-entered public markets just last year and now trades under the ticker SNDK.
Last week, Sandisk projected third-quarter revenue and adjusted profit well above Wall Street expectations, citing strong demand for flash storage driven by artificial intelligence workloads. The company also extended its flash-chip supply deal with Japan’s Kioxia through 2034. Investors have taken this as a sign that NAND — the flash memory used in solid-state drives — could remain in tight supply.
Raymond James analyst Melissa Fairbanks raised the stock to “outperform” following the earnings, dubbing it “one of the most delayed upgrades in history.” She also set a $725 price target, according to a report from MarketWatch. MarketWatch
The downside risk is straightforward: if spending on cloud and data centers slows, or supply ramps up sooner than predicted, memory prices could tumble fast, dragging margins down. The stock’s volatile swings in either direction highlight that threat clearly.
Investors are now waiting on more analyst updates and any new clues about enterprise storage orders before Sandisk reports earnings on May 6.
