SanDisk shares jump as analysts back NAND outlook

SanDisk Corporation shares rose 7.5% in morning trading on Monday, recovering from an 18% decline the previous week driven by concerns over China's CXMT chipmaker advances in memory technology.

The stock's rebound came without new company announcements but followed a shift in the broader environment affecting semiconductor stocks.

Mizuho maintained its Outperform rating and $2,050 price target on SanDisk, telling investors to use the recent pullback as a buying opportunity. The firm said NAND demand is growing from key-value caching and agentic AI applications while global supply outside China remains mostly flat. Mizuho expects NAND pricing to stay elevated through 2027.

KeyBanc projected meaningful NAND price increases in the current quarter. Goldman Sachs had previously stated that the prior week's sector decline was an overreaction given the persistent technology gap in advanced-node NAND.

The previous week's selloff stemmed from concerns that CXMT's progress in memory technology could eventually affect NAND supply dynamics.

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