Sandisk Corp.
The stock is up about 4% on Wednesday as AI memory demand headlines support broader memory-sector sentiment.
SK Hynix Results Support Memory Outlook
SK hynix Inc.
The company attributed the performance to higher memory prices and AI server demand.
SK hynix also said it has long-term agreements with 14 major customers covering more than 50% of its production capacity for 2027 and 2028. The company expects demand to continue exceeding supply through 2030.
Those results helped lift memory stocks including Sandisk and Micron Technology Inc.
Earnings Approach After October Pullback
Sandisk is scheduled to report fiscal first-quarter 2027 results on Oct. 29.
Analysts expect earnings per share of $46.22, up from $1.22 a year earlier, on revenue of $10.64 billion, compared with $2.31 billion in the prior-year period.
The stock trades at a 17.7 times price-to-earnings multiple.
Technical Analysis
Sandisk remains above its 200-day simple moving average (SMA) of $1,245.57, but trades 8.5% below its 20-day SMA of $1,486.86 and 13.7% below its 50-day SMA of $1,576.10.
The 20-day average also remains below the 50-day average, leaving the intermediate trend under pressure despite the rebound on Wednesday.
Analyst Outlook
Sandisk carries a Buy consensus rating with an average price forecast of $2,253.57.
Cantor Fitzgerald maintains an Overweight rating with a $2,200 forecast, Mizuho maintains Outperform with a $2,050 forecast, and Rosenblatt initiated coverage with a Buy rating and $2,400 forecast.
Top ETF Exposure
The Invesco S&P 500 Pure Growth ETF
Significant inflows or outflows in these funds can translate into corresponding trading activity in SNDK shares.
Price Action
SNDK Stock Price Activity: Sandisk shares are trading higher by 4.23% at $1,360.08 at the time of publication on Wednesday, according to Benzinga Pro data.
