SanDisk (SNDK) Stock Is on a Five-Day Tear. Here’s Why.
TLDR
- SanDisk stock surged 35% over five days, adding another 5%+ in premarket trading Monday
- The rally was sparked by the August 13 Investor Day, where SanDisk projected mid-to-high-teens annual revenue growth through fiscal 2030
- JPMorgan resumed coverage with an Overweight rating and a $2,250 price target
- Commerce Secretary Howard Lutnick urged Apple not to buy memory chips from China, lifting U.S. memory stocks broadly
- A hedge fund held SNDK as its largest position at 28.52% of its $20.2 billion portfolio, up 118.87% from the prior quarter
SanDisk stock rose more than 5% in premarket trading Monday, hitting around $1,709, extending a five-day run that has seen the stock gain 35%. Despite the surge, it remains more than 25% below its record closing high of $2,335 set on June 25.
The rally started with SanDisk’s “In Focus” Investor Day on August 13. Management laid out a long-term financial model projecting mid-to-high-teens 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.
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