On July 21, Sandisk rose 3.1% overnight, trading at $1,434.95/share with turnover of $88.32 million, extending the broader storage sector rebound.

On the news front, Morgan Stanley maintained its positive outlook on the storage sector, stating that memory is increasingly becoming a primary bottleneck for AI infrastructure buildout — a structural constraint expected to persist for years. The firm estimated that Q3 data center memory prices rose at least 25% quarter-over-quarter, exceeding both its own and third-party forecasts. Morgan Stanley characterized the recent pullback as an attractive buying window, noting that storage stocks' risk-reward profiles are rapidly catching up to previously favored names like NVIDIA and Broadcom.

Multiple Wall Street firms have recently raised their target prices on Sandisk against the trend, with Goldman Sachs lifting its target to $2,200 and Evercore ISI to $3,100. Institutions are broadly optimistic about the company's fiscal quarter results expected in early August, with consensus EPS of $33.28.

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