SanDisk (SNDK) Stock Rises 5% as Analyst Upgrades and China Chip News Lift Memory Stocks

TLDR

• SanDisk stock rose over 5% in premarket trading Monday, extending a five-day streak that saw the stock gain 35%
• The rally was sparked by SanDisk’s August 13 Investor Day, where management projected mid-to-high-teen annual revenue growth through fiscal 2030
• JPMorgan resumed coverage with an Overweight rating and a $2,250 price target; Goldman Sachs and Mizuho reaffirmed Buy ratings
• Commerce Secretary Howard Lutnick urged Apple not to buy memory chips from China, lifting U.S. memory stocks broadly
• The average analyst price target on SNDK is $2,210, with 81% of analysts rating it a Buy

SanDisk stock was trading up more than 5% to around $1,725 in premarket trading on Monday, building on a five-day run that added 35% to its price. Despite the strong move, the stock is still more than 25% below its record closing high of $2,335, set on June 25.

Sandisk Corporation, SNDK

The winning streak traces back to SanDisk’s “In Focus” Investor Day on August 13. Management laid out a long-term financial model projecting mid-to-high-teen annual revenue growth, non-GAAP gross margins of around 80%, and adjusted free cash flow margins of roughly 50% for fiscal years 2028 through 2030. Those targets came in well above what Wall Street had been expecting.

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