SanDisk Corp. (SNDK) stock soared 5.42% during Thursday's intraday session, extending a recent rally in the memory chip sector.
The surge was driven by a combination of easing Middle East tensions and sustained demand from AI infrastructure. As ceasefire expectations grew, capital flowed back into risk assets like memory and storage stocks. Additionally, the expansion of AI data centers continues to fuel a global shortage of storage, supporting higher chip prices. Analysts note that memory demand remains robust, with prices trending upward.
Further boosting sentiment, Bernstein raised its price target on SanDisk to $1,250 from $1,000, maintaining an Outperform rating. This adjustment reflects renewed optimism about the company's growth prospects amid the AI-driven cycle.
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