On July 21, SanDisk rose 6.76% in pre-market trading, trading at $1,487.90/share, with turnover of $36.86 million, extending a strong rebound after the storage sector's sharp correction the prior week.

On the news front, the storage chip sector saw broad-based recovery driven by multiple catalysts. SK Hynix's chairman stated that AI semiconductor demand is expected to grow 60% to 100% year-over-year next year, while major manufacturers have virtually no substantial capacity expansion plans, pointing to a widening supply-demand gap. Morgan Stanley noted that memory is increasingly becoming a primary bottleneck in AI infrastructure buildout, a structural constraint expected to persist for years, and characterized the recent pullback as an attractive buying window. Q3 data center memory contract prices are estimated to rise at least 25% quarter-over-quarter.

Multiple Wall Street firms recently raised SanDisk's target price, with Goldman Sachs lifting to $2,200 and Evercore ISI to $3,100. UBS advised investors to rebuild AI and semiconductor positions, suggesting the momentum stock selloff is nearing its end. The company's next earnings report is expected on August 5.

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