Wells Fargo Hikes SanDisk Stock Price Target With a Bigger Prediction

SanDisk stock (NASDAQ: SNDK) opened Monday’s trading session at $1,436 after falling more than 10% on Friday. The leading high-bandwidth memory (HBM) manufacturer has crashed nearly 30% in a month and shed close to 615 points. The AI sector saw sharp corrections in July as companies increased their capital expenditure to build their infrastructure. Alphabet’s Google stock fell to the $319 level despite robust revenues during the latest earnings call. The slump came after Alphabet announced it would increase its capex on AI from $180 billion to $215 billion for 2026.

Also Read: Here’s Why Micron Is The Winner In The Nvidia Vs AMD Battle

SanDisk Price Prediction: Wells Fargo Hikes SNDK Target

On the heels of the ongoing price dip, leading global investment bank Wells Fargo has urged institutional clients to begin accumulating SanDisk stock. In a note sent to clients last week, the banking giant wrote that SNDK could rise double digits next. This makes the equity a must-watch, as the upside trajectory is higher. Taking an entry position now, even at the $1,430+ level, or buying the dips could still be beneficial to traders.

… Continue reading the full article at the original source below.