Sandisk Shares Slip Friday After Record Run Fueled By AI Memory Trade

SanDisk Corp (NASDAQ:SNDK) shares are trading marginally lower Friday even after Bernstein lifted its target to $1,250, about 47% upside, and argued the NAND upcycle is being underestimated.

Friday’s dip comes as traders weigh whether a projected 40% sequential jump in average selling prices can keep powering earnings into the April 30 print, as laid out in stronger-than-expected NAND pricing commentary.

• SanDisk stock is showing positive momentum. Where are SNDK shares going?

Bernstein Sees Stronger NAND Pricing Tailwinds Ahead

Bernstein analyst Mark Newman lifted his price target to $1,250 and kept an Outperform rating, arguing NAND pricing is coming in stronger than expected and that concerns tied to TurboQuant are “overdone”. He also said the industry remains structurally undersupplied, with NAND prices only starting to inflect meaningfully six to seven months ago.

Sandisk is also being treated as a flow-driven AI-memory proxy after the Roundhill Memory ETF (BATS:DRAM) put it at a 4.66% portfolio weight, creating a potential mechanical bid if assets move into the fund.

That setup helped push the stock to record levels earlier in the week, as described in flow driven ETF demand chatter.

Sandisk Momentum Stays Strong Near Overbought Levels

At $849.34, Sandisk is trading 21.5% above its 20-day simple moving average (SMA), the stock's average price over the last 20 sessions, which suggests buyers still control the short-term trend. It's also 82.1% above its 100-day SMA, indicating the intermediate trend remains strongly tilted upward.

The relative strength index (RSI), a momentum gauge, is 68.18, which sits just under the typical "overbought" threshold and suggests momentum is strong but getting crowded. RSI previously pushed into overbought territory on 2026-01-06, a reminder that this name can run hot before cooling.

• Key Resistance: $855.00 — near the fresh 52-week high area where rallies can stall.
• Key Support: $695.50 — near the 20-day SMA zone where dip-buyers have recently shown up.

April 30 Earnings Report Marks Next Major Catalyst

Following last quarter’s results, investors are now tracking the path toward the next reporting date on April 30.

• EPS Estimate: $13.80 (Up from Loss of 30 cents YoY)
• Revenue Estimate: $4.60 Billion (Up from $1.70 Billion YoY)

Wall Street Keeps A Buy Rating On Sandisk

Analyst Consensus & Recent Actions: The stock carries a Buy rating with an average price target of $585.78. Recent analyst moves include:

• Cantor Fitzgerald: Overweight (Raises Target to $1000.00) (April 9)
• B of A Securities: Buy (Raises Target to $900.00) (March 23)
• Citigroup: Buy (Raises Target to $875.00) (March 19)

Sandisk Pulls Back Slightly Friday

SNDK Stock Price Activity: SanDisk shares were down 0.42% at $847.99 at the time of publication on Friday, according to Benzinga Pro data.

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