Shares of Sandisk Corporation (NASDAQ:SNDK) are rising sharply Wednesday amid strength across memory and storage stocks. The move comes as investors react to strong earnings from Seagate Technology Holdings (NASDAQ:STX), which lifted sentiment across the sector.

Analyst Says NAND Pricing Environment Is Strengthening

In a note published Wednesday, Webush analyst Matt Bryson highlighted that Sandisk is benefiting from improving conditions in the NAND market, with pricing trends exceeding earlier expectations. Bryson set a price target of $1,200 on the stock.

The analyst noted that the company has been "successful in lifting pricing at a faster rate than the broader industry," pointing to strong execution relative to peers. This sentiment appears to be driving shares higher ahead of earnings this week as investors expect Sandisk’s report to show continued strength in memory.

The Wedbush analyst added that Sandisk initially guided to roughly 55% pricing increases for the quarter, but analysts now expect closer to a 65% uplift, with some industry checks suggesting even higher gains in certain cases.

Stronger pricing is expected to translate into higher profitability. Analysts raised their gross margin outlook to approximately 67% for the quarter, alongside an increase in earnings expectations.

Looking ahead, Bryson sees continued upside, with further pricing strength and demand supporting revenue growth and margin expansion into upcoming quarters. Full-year estimates were also revised higher, reflecting the improving environment.

Sandisk is due to report fiscal third-quarter earnings after the market close on Thursday, per Benzinga Pro.

SNDK Stock Trades Above Key Averages Before Earnings

Sandisk is pressing into fresh highs within its 52-week range, which keeps the longer-term trend firmly pointed up. The stock is trading 26.2% above its 20-day simple moving average (SMA) and 96.7% above its 100-day SMA, a setup that suggests strong short-term control by buyers and a steep intermediate uptrend.

The moving average convergence divergence (MACD), a trend/momentum measure, is bullish with the MACD line above the signal line, which leans toward upside momentum staying in place. When MACD stays above its signal, it typically reflects buyers maintaining pressure rather than fading rallies.

  • Key Resistance: $1,070.50 — prior 52-week high area where breakouts can get "re-tested."
  • Key Support: $868.50 — near the 20-day SMA zone that often acts like a first pullback area.

Sandisk's 12-month gain of 3221.07% shows an extreme long-run uptrend, which often brings sharper swings as positioning gets crowded. With the stock now above the prior 52-week high ($1,070.66) and well above the 52-week low ($31.01), the chart is still in "trend mode," but pullbacks can be fast when momentum cools.

SNDK Shares Lift On Wednesday

SNDK Stock Price Activity: SanDisk shares were up 8.77% at $1,090.51 at the time of publication on Wednesday, according to Benzinga Pro data.

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