SanDisk Corp. (SNDK) surged 5.00% in Tuesday's trading session, marking a significant 24-hour gain for the storage technology company.
The rally was driven by multiple positive catalysts, including investor optimism building ahead of the company's fiscal third-quarter earnings report scheduled for April 30. Analysts expect strong results, with consensus estimates projecting adjusted earnings per share of approximately $14.43 to $14.55 on revenue of $4.68 to $4.72 billion, a dramatic increase from roughly $1.7 billion in the year-ago period.
Morgan Stanley highlighted that NAND pricing momentum remains robust and is unlikely to soften anytime soon due to hyperscaler demand and increasingly tight supply. Additionally, the stock gained momentum in extended trade following positive quarterly results from sector peer Seagate Technology, reinforcing broader storage sector strength. Analysts note that the AI boom is fueling what they describe as a NAND storage super cycle, with expectations that AI-driven demand will sustain storage growth through the end of the decade.