SanDisk Corp. (SanDisk (SNDK)) shares climbed Monday afternoon as a worsening global shortage of NAND flash memory and solid-state drives (SSDs) continued to lift expectations for memory chip makers.
The supply crunch has emerged as memory manufacturers redirect DRAM and NAND production toward AI infrastructure, tightening availability for traditional storage products.
Massive data center spending by Alphabet Inc. (GOOGL), Microsoft Corp. (MSFT), Meta Platforms Inc. (META), and Amazon.com Inc. (AMZN) has accelerated demand for high-performance memory, driving chip prices sharply higher.
BofA Analyst Raises Forecast Price
In a research note, Bank of America (BofA) analyst Wamsi Mohan raised his SanDisk price forecast from $1,550 to $2,100. Mohan cited strong pricing power and the company's strategic shift to multi-year contracts to mitigate cyclical revenue fluctuations.
"Reiterate Buy on valuation, beneficial joint venture partnership, share gains, and long-term potential for industry consolidation," Mohan stated.
SanDisk, a spin-off of Western Digital Corp. (WDC), has achieved a $323 billion market value following a 4,553.35% increase over the past 12 months.
Wall Street Firms Maintain Bullish Outlook
Other financial institutions adjusted their estimates following the market momentum. Mizuho raised its SanDisk price forecast from $1,825 to $2,200, while Cantor Fitzgerald lifted its forecast from $1,800 to $2,900. Susquehanna analysts issued the highest forecast at $3,250.
Apple CEO Validates Memory Supply Constraints
The upward momentum builds on a June 18 Wall Street Journal interview with Apple Inc. (AAPL) CEO Tim Cook. Cook confirmed structural memory shortages, stating that Apple will implement product price increases due to escalating storage costs.
"Unfortunately, price increases are unavoidable," Cook said. "We're doing our best to mitigate the huge increases that are being passed to us, but the situation has become unsustainable."
Cook characterized the market environment as a "100-year flood," noting, "I've never seen anything like it in any area in over 40 years."
SanDisk Technical Analysis
SNDK is in a steep long-term uptrend, and the moving-average stack confirms it: the stock is trading 29% above its 20-day SMA ($1760.08), 62.2% above its 50-day SMA ($1399.86), 123.3% above its 100-day SMA ($1017.04), and 270.3% above its 200-day SMA ($613.26). That kind of separation typically signals strong trend control, but it also raises the risk of sharp pullbacks if momentum cools.
The trend structure is reinforced by bullish crossovers, with the 20-day SMA above the 50-day SMA and the 50-day SMA above the 200-day SMA—classic "trend-up" alignment. From a turning-point perspective, the stock's most recent swing low was in March, followed by a push into a June swing high that also marked the prior 52-week high.
Momentum-wise, RSI is the cleaner lens here because the stock previously entered overbought territory in June, which frames the current move as "still stretched" rather than "just starting." RSI measures how extended the recent buying or selling has become, and in this case it supports the idea that strength can persist—but volatility can rise if buyers get exhausted.
- Key Resistance: $2191.69 — prior 52-week high area that price has now pushed above, making it the first "breakout retest" zone to watch
- Key Support: $1760.08 — the 20-day SMA, a common trend support level during strong advances
SNDK Price Action: SanDisk shares were up 4.59% at $2284.98 during premarket trading on Monday. The stock is trading at a new 52-week high, according to market data.
