SanDisk Corp. (SNDK) surged 8.19% intraday on Tuesday, reflecting a powerful rally driven by a major technology announcement and mounting anticipation ahead of its upcoming earnings report.

The primary catalyst was the joint release of the world's first High Bandwidth Flash (HBF) standard specification alongside SK Hynix. HBF is positioned as a new memory tier between high-bandwidth memory (HBM) and solid-state drives (SSDs), supporting up to 512GB capacity and bandwidth ranging from 0.4 TB/s to 3.0 TB/s. The specification, made available through the Open Compute Project (OCP), has also attracted Google and Tenstorrent to the alliance, signaling broader industry adoption. Additionally, SanDisk and Kioxia unveiled their next-generation QLC 3D flash memory technology, further strengthening the company's innovation pipeline for AI and cloud storage architectures.

The rally was also underpinned by optimism ahead of SanDisk's fiscal fourth-quarter earnings, scheduled for release after market close on August 5. Consensus estimates call for revenue of $8.394 billion and adjusted EPS of $34.45. With the stock having suffered a cumulative decline of roughly 47% in July, investors viewed the selloff as overdone, and bargain-hunting flows accelerated. The broader chip sector also traded higher in pre-market and intraday sessions, adding to the positive momentum.