Things can change on a dime in this market, just take Sandisk.

Shares of the memory-storage company surged 24% to $1,263.90 on Thursday, were the session's leading performer in the S&P 500 during the session, and were on pace for their largest daily percentage gain since Jan. 6. More broadly, chip stocks rebounded Thursday with the tech-heavy Nasdaq Composite up 2%.

It's quite the change for a stock which has closed lower in four consecutive trading sessions, making it the poster child of the brutal artificial-intelligence trade selloff in July.

It's likely Sandisk received a boost from Samsung Electronics' strong earnings and remarks suggesting memory supply shortages will last through 2028.

Sandisk stock remains down 44% in July and remains on pace to log its worst monthly performance on record, according to Dow Jones Market Data.

Shares also have dropped 46% from their record high of $2,335 on June 25.

The recent decline, however, is just a drop in the bucket compared to the impressive gains the stock has racked up this year, soaring 432% in 2026 and 2,845% in the past 12 months.