Sandisk shares rose 6.48% to $1,383.49 in Monday morning trading on the Nasdaq, ending a seven-session losing streak that began Oct. 8. The rebound came as memory chip stocks recovered from a sell-off driven by fears that China's CXMT is advancing its chip technology faster than expected, which could boost global supply and pressure prices. Some analysts argue the threat to Sandisk is overstated, since CXMT's advances mainly concern DRAM while Sandisk focuses on NAND flash. Even after the gain, the stock remains about 40% below its record close of $2,335 in late June, though it is up nearly 780% over the past year on AI data center memory demand. Of 17 analysts covering it, 15 rate it Buy and two rate it Hold, with an average target of about $2,206; the company reports quarterly results on Oct. 29.
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| Market | US stocks |
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