Stock Track | SanDisk Soars 5.10% Intraday on Strong Q3 Earnings Outlook and AI Storage Demand

Stock Track

Apr 24

SanDisk Corp.'s stock soared 5.10% intraday on Friday, driven by growing optimism surrounding the company's upcoming fiscal third-quarter earnings and structurally robust AI-driven storage demand.

The rally comes as analysts project record-high performance for SanDisk, with Q3 revenue guidance of $4.4-$4.8 billion (representing approximately 52% quarter-over-quarter growth at the midpoint) and gross margin guidance of 65%-67%. Net income is projected to surge over 800% year-over-year, driven by persistent supply-demand imbalances in AI storage that are pushing average selling prices higher. Analysts maintain a buy rating with a target price range of $980-$1,020.

The positive momentum for SanDisk is further supported by a broader semiconductor sector rally, with the Philadelphia Semiconductor Index soaring 3.7% following Intel's earnings report, creating favorable market conditions for semiconductor stocks.

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