SanDisk Leads Memory Stocks Lower: A Look Inside the Rout
SanDisk plunged nearly 20% as AI and memory stocks sold off after election results raised fears of data-center delays and weaker chip demand.
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Bernstein analyst Stacy Rasgon has initiated coverage on SanDisk Corporation with a Buy rating and a price target of $3,000.
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SanDisk plunged nearly 20% as AI and memory stocks sold off after election results raised fears of data-center delays and weaker chip demand.
Nvidia, Micron and eight other AI stocks fell below their 200-day moving average this week as the midterm vote hit AI spending bets.
SanDisk's 14-day RSI fell to 26.6 Thursday, its most oversold reading since April 2025, as shares slid 13% and extended a 34% weekly drop.
Sandisk (NASDAQ: SNDK) fell almost 8% premarket as post-midterm tech rotation hit memory chips, leaving analysts divided over further downside or a year-end rally.
Meta Platforms and Sandisk announced their first-ever forward stock splits to make shares more accessible to retail investors. Meta is conducting an unorthodox 2-for-1 split through a new non-voting share class, while Sandisk approved an aggressive 8-for-1 split following a 6,000% rally since its February 2025 spinoff from Western Digital. Both companies are benefiting from AI demand, though Sandisk faces cyclical risks in the memory storage market.
Fox Advisors has downgraded SanDisk's stock rating from Overweight to Equal-Weight.