On June 8, SanDisk rose 3.31% in pre-market trading, trading at $1,612.51/share, with trading volume of $147 million.

On the news front, Morgan Stanley recently raised its target price on SanDisk from $1,100 to $1,750, maintaining an overweight rating. Analysts noted that memory chip market demand will continue to exceed supply, with no near-term relief expected. According to FactSet, SanDisk carries an average overweight rating with a mean price target of $1,775.09.

The move comes as the storage sector enters a recovery phase following a sharp two-day selloff triggered by Broadcom's third fiscal quarter AI chip revenue guidance of approximately $16 billion, which significantly missed market expectations of $17.2 billion. SanDisk had previously fallen over 7% during the rout. Wall Street analysts subsequently characterized the selloff as an overreaction, stating that Broadcom's true growth potential would be realized in subsequent periods.

Within the Technology Hardware, Storage & Peripherals sector, Western Digital rose 3.35%, Seagate Technology rose 2.58%, and Super Micro Computer rose 5.5%, reflecting broad sector recovery sentiment.

(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.)