Stock Track | SanDisk Soars 5.09% Intraday as Citi Raises Target Price Over 50% on AI Storage Super Cycle
Stock Track
May 21
SanDisk Corp.'s stock soared 5.09% intraday on Thursday, extending a recovery from recent selloffs.
The surge follows a significant target price hike by Citi analyst Atif Malik, who raised SanDisk's target from $1,300 to $2,025—an increase of over 50%—while maintaining a buy rating. The upgrade is driven by expectations of an AI-driven memory super cycle, with High Bandwidth Memory supply remaining tight through 2027 due to surging AI computing demand, which is squeezing conventional DRAM supply and pushing prices higher.
The broader storage sector also rallied, with peers like Seagate Technology and Western Digital gaining, reflecting renewed momentum in the AI storage narrative after a recent correction.
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