Market sentiment can change fast, and Sandisk showed that clearly on Thursday.
Sandisk shares jumped 24%, making them the best performer in the S&P 500 for the day and setting up their biggest one-day gain since January 6. This happened as chip stocks rebounded and the Nasdaq Composite also climbed.
This rally is a big turnaround for Sandisk, which had fallen for four days in a row and had come to represent the steep drop in AI-related stocks during July.
The gains probably came partly from strong earnings at Samsung Electronics and comments that memory supply shortages could last until 2028.
Even after Thursday’s surge, Sandisk is still down a lot for the month and could have its worst monthly performance ever, according to Dow Jones Market Data. The stock is also far below its record high from June 25.
Despite the recent drop, Sandisk’s decline is small compared to its gains this year. Shares are still up a lot in 2026 and over the past 12 months.
