SanDisk Stock Surges 6% to One-Month High as Memory Chip Stocks Spark Another Bullish Frenzy
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Memory concept stocks extended their strong rally, driven by SanDisk’s surge of over 6% to top $1,700 and hit a one-month high on August 17 Eastern Time. Sector-wide pre-market gains saw Micron Technology, SK Hynix, and Western Digital rise approximately 4%, with Seagate Technology up over 3%. This momentum follows SanDisk’s Investor Day announcements on August 13, where management projected Non-GAAP gross margins of up to 80% by fiscal year 2030 and disclosed nearly $94 billion in long-term strategic NBM contracts, fueling a three-day sector-wide advance.
TradingKey - Memory concept stocks continue their strong rally, with SanDisk leading gains by surging 6% to break through the $1,700 mark, hitting a one-month high.
On August 17 Eastern Time, memory chip stocks rose across the board in pre-market trading, with SanDisk (SNDK) performing the strongest, soaring about 6% to break through the $1,700 mark and set a new high since July 15. Meanwhile, Micron Technology (MU), SK Hynix (SKHY), and Western Digital (WDC) all rose about 4%, while Seagate Technology (STX) gained over 3%.
SanDisk stock price chart, Source: TradingView
Last Thursday (August 13), SanDisk released major positive news at its Investor Day, where management unveiled a financial blueprint targeting Non-GAAP gross margins of up to 80% by fiscal year 2030 and disclosed nearly $94 billion in long-term strategic NBM contracts. This stimulated a surge of nearly 14% in its stock price that day, while driving a collective rally in the memory chip sector, which has now logged gains for three consecutive trading days.
This content was translated using AI and reviewed for clarity. It is for informational purposes only.
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