Sandisk shares have been rising quickly, showing signs of bouncing back after a tough period.
The stock has gone up for five days in a row through Friday, with strong gains during that time. It looked ready to keep rising on Monday with more premarket gains. Still, shares are far below the record high from June 25.
Sandisk traded alongside other memory stocks like Western Digital, Seagate, and Micron before the market opened on Monday. The group got a boost after Commerce Secretary Howard Lutnick said in an interview that the U.S. has clearly told Apple not to buy memory chips from China, according to The Wall Street Journal. Many see less competition from China as good news for U.S. memory companies.
For Sandisk, a few other things have helped the stock rise. At its investor day last week, the company shared big goals for the future, expecting yearly revenue to grow by mid-to-high teens percentages from 2028 to 2030. They also expect profit margins to stay around 80% during that time. These plans have helped calm worries that the memory market is about to peak.
Analysts are feeling more positive too. J.P. Morgan started covering Sandisk again with a bullish view, saying the company is in a good spot to benefit from growing demand for NAND flash memory as AI workloads increase.
Wedbush also kept a positive view on the stock, but the firm still has some doubts about claims made at the investor day, especially the idea that memory markets will always be cyclical. Still, Wedbush said its own forecasts might be too low for Sandisk’s 2028 earnings, and it highlighted the company’s plans for big share buybacks as another plus.
Across Wall Street, more analysts are now positive about the stock. The number of analysts with a good outlook on Sandisk is the highest it has been since the company split from Western Digital last year.
