Stock Track | SanDisk Soars 5.03% Intraday on Morgan Stanley Price Target Hike and AI Storage Demand Optimism

Stock Track06-03 23:14

SanDisk Corp.'s stock soared 5.03% during intraday trading on Wednesday, driven by a significant analyst upgrade and growing optimism around AI-driven storage demand.

Morgan Stanley raised its price target on SanDisk to $1,750 from $1,100, maintaining its overweight rating. The firm cited sustained tight conditions in the global memory market, driven by ongoing supply constraints and strong demand from AI infrastructure build-outs. According to the analyst note, supply-demand imbalances are expected to persist, with AI workloads extending the duration of the current upcycle.

The rally reflects broader sector sentiment, as multiple investment banks have recently raised their outlooks for SanDisk, pointing to the memory and storage segment as a key beneficiary of the AI boom. The narrative of intensifying AI storage demand continues to support the stock's upward momentum.

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