Movement Alert｜SanDisk Rises 3.38% in Pre-Market Trading, Citigroup Raises Target Price Over 50% to $2,025 Amid AI Storage Super Cycle

Market Focus

May 20

On May 20, SanDisk (SNDK) rose 3.38% in pre-market trading, trading at $1,431.24 USD/share, with trading volume of approximately $265 million. The rebound follows a multi-session selloff that saw the stock decline more than 15% from recent highs.

The recovery is primarily driven by Citigroup's significant target price upgrade from $1,300 to $2,025, representing over 50% upside from current levels. Citi analyst Asiya Merchant cited the AI agent super wave and strong pricing dynamics, noting NAND flash average selling prices are projected to surge 186% this year, with enterprise SSDs expected to rise approximately 265%. The new target implies a 9-10x forward P/E on calendar year 2027 estimates.

Despite the recent pullback driven by profit-taking and valuation concerns, SanDisk's fundamental thesis remains intact. The company has demanded 100% cash prepayment from downstream customers to secure 1-3 year storage chip allocations, while enterprise SSD prices are reportedly doubling quarter-over-quarter. Within the Technology Hardware, Storage & Peripherals sector, Western Digital rose 3.07% and Seagate gained 2.86%, signaling a broad storage sector recovery.

(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.)

Disclaimer: Investing carries risk. This is not financial advice. The above content should not be regarded as an offer, recommendation, or solicitation on acquiring or disposing of any financial products, any associated discussions, comments, or posts by author or other users should not be considered as such either. It is solely for general information purpose only, which does not consider your own investment objectives, financial situations or needs. TTM assumes no responsibility or warranty for the accuracy and completeness of the information, investors should do their own research and may seek professional advice before investing.

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Citi analyst Asiya Merchant cited the AI agent super wave and strong pricing dynamics, noting NAND flash average selling prices are projected to surge 186% this year, with enterprise SSDs expected to rise approximately 265%. The new target implies a 9-10x forward P/E on calendar year 2027 estimates.Despite the recent pullback driven by profit-taking and valuation concerns, SanDisk's fundamental thesis remains intact. The company has demanded 100% cash prepayment from downstream customers to secure 1-3 year storage chip allocations, while enterprise SSD prices are reportedly doubling quarter-over-quarter. Within the Technology Hardware, Storage & Peripherals sector, Western Digital rose 3.07% and Seagate gained 2.86%, signaling a broad storage sector recovery.(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. 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