Movement Alert|SanDisk Rises 3.23% Overnight, AI Storage Super Cycle and Citi Target Price Upgrade to $2025 Continue to Drive Momentum

Market Focus
05/26

On May 26, SanDisk (SNDK) rose 3.23% overnight, trading at $1,537.9 USD/share, with trading volume of approximately $9.18 million. The rebound extends a recovery pattern following multiple bullish catalysts in the storage sector.

On the news front, Citi recently raised SanDisk's target price from $1,300 to $2,025, maintaining a Buy rating, representing over 50% upside. The upgrade reframes SanDisk from a cyclical peak trade into a contractualized NAND supply rights framework. Citi forecasts NAND ASP to surge 186% year-over-year in 2026, with enterprise SSD prices rising approximately 265%.

Additionally, SanDisk CEO David Goeckeler told investors at a JPMorgan conference that the flash memory market will remain in undersupply for a very long time, creating an ideal opportunity as the company shifts toward multi-year agreements with price floors and financial guarantees. SanDisk reported Q3 FY2026 revenue of $11.28 billion, up 106.88% year-over-year, with net income surging 379.98%. Separately, another analyst raised SanDisk to Buy with a $3,000 target, citing a forward P/E of only 7x on FY2027 earnings.

(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.)

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