SanDisk Stock Price Forecast: Can SanDisk Hold $1,400 as ChangXin Memory Tech Breakthrough Hits Memory Sector?
TradingKey - As of October 12, Eastern Time, SanDisk (SNDK) shares fell sharply by 5.97% to close at $1,487.33, after touching an intraday low of $1,464.43. Following declines of 4.90% on October 8 and 1.72% on October 9, the stock has accumulated a pullback of about 12% over three trading sessions. The recent ongoing correction in SanDisk's stock price and the broader pressure on the memory sector are primarily driven by Chinese memory chipmaker ChangXin Memory Technologies (CXMT) disclosing R&D progress in its next-generation DRAM technology. In response, the market has begun to reassess the future competitive and supply landscape of the global memory industry, causing memory-related stocks such as Micron, Samsung, SK Hynix, and SanDisk to fall in tandem.