On June 1, SanDisk (SNDK) rose 5.32% in regular trading, trading at $1,745.23/share, with trading volume of approximately $3.894 billion. The stock hit a new high alongside Western Digital, Seagate Technology, and Micron Technology.

On the news front, multiple major international investment banks have collectively raised their target prices and ratings for SanDisk in recent sessions. Citi upgraded its target to $2,025, while Barclays set an Overweight rating with a $2,300 target. These institutions broadly believe the storage industry is entering a new phase driven by long-term agreements (LTAs), supply tightening, and unprecedented pricing visibility, with the supply-demand imbalance potentially persisting through 2027. SanDisk is viewed as one of the primary beneficiaries of this industry transformation.

Adding further momentum, SanDisk CTO Alper Ilkbahar stated that the global AI race is increasingly centered on memory rather than compute power, a trend that could exacerbate an unprecedented storage chip supply crunch. Management noted that approximately one-third of bit supply through 2027 is locked under LTAs, with remaining purchase obligation amounts at $42 billion and potential to expand LTA coverage to 50% or higher.

(The above content is based on publicly available market information, generated by a program or algorithm, and is intended solely as a stock movement alert. It does not constitute investment advice or a basis for trading decisions.)