SanDisk Corporation

SanDisk jumps to $1,887.04 after Rosenblatt starts coverage at Buy as AI-driven NAND demand puts $1,949.51 in focus.

TradingKey - Rosenblatt Securities initiated coverage on SanDisk (SNDK) with a "Buy" rating and set a price target of $2,400. Driven by the news, SanDisk closed up approximately 6.8% on Tuesday at $1,887.04.

TradingKey - As of the close on September 22, Eastern Time, the Dow Jones Industrial Average fell 0.36% to 51,863.69. The Nasdaq Composite gained 0.45% to 27,244.28, setting a record closing high, while the S&P 500 edged down by less than 0.01% to 7,764.64.

On September 22, Eastern Time, the Nasdaq Composite Index hit a new record high, peaking at 27,272 points; the Nasdaq 100 Index crossed 30,000 points on September 21, serving as an important symbol of market sentiment; meanwhile, the Dow Jones Industrial Average was falling. The direct catalyst behind the Nasdaq's gain came from renewed capital inflows into tech stocks, coupled with pulling-back oil prices, a temporary easing of interest rate pressures, and the continued expansion of demand for AI infrastructure. At the sector level, memory chip stocks led the gains today, with SanDisk (SNDK) surging over 8% intraday to break through the $1,900 mark, while Micron (MU) and SK Hynix ADR (SKHY) rose more than 3%.

TradingKey - SanDisk enters the S&P 100 after an 11% surge as AI data-center demand, NAND pricing power and $1,805 resistance shape the next SNDK move.

TradingKey - On September 18, Eastern Time, US stocks concluded a volatile week with the three major indices closing mixed. A continued rebound in tech and semiconductor stocks pushed the S&P 500 and Nasdaq slightly higher. However, the 10-year US Treasury yield climbing back toward 5%, coupled with

TradingKey - Both Micron Technology (MU) and SanDisk (SNDK) benefit from AI data center expansion, but they have different business structures.

TradingKey - Large-scale short-term options trading drove strength in the memory chip sector, with SanDisk (SNDK) emerging as the standout performer. On September 18, SanDisk surged 10.99% on heavy volume to close at $1,791.82, after touching an intraday high of $1,797, coming just shy of the $1,800 psychological milestone.

TradingKey - As of the close on September 17, Eastern Time, SanDisk (SNDK) shares rose 6.21% in a single day to $1,614.39, touching an intraday high of $1,625.36 and ending its previous continuous pullback.

TradingKey - On September 14, memory sector stocks in the US market broadly weakened in pre-market trading. Micron Technology (MU) and SanDisk (SNDK) both fell more than 5%, SK Hynix (SKHY) dropped over 7%, and Western Digital (WDC) and Seagate Technology (STX) declined by over 4%.