Sandisk Corporation (NASDAQ:SNDK) stock has been volatile on Wednesday as chip stocks weakened alongside broader market softness and profit-taking from the previous session.

Market momentum slowed as U.S. index futures moved lower. Nasdaq futures fell 0.36%, while S&P 500 futures shed 0.15%, putting pressure on tech sector valuations.

Sandisk is scheduled to report fourth quarter earnings on August 5. Analysts estimate earnings per share of $33.38 and quarterly revenue of $8.24 billion.

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The pullback follows a sharp surge on Tuesday, when Sandisk stock climbed over 10%.

Morgan Stanley analyst Joseph Moore noted on Tuesday that data center memory shortages persist, forecasting memory prices to rise at least 25% from the second quarter to the third quarter of 2026. Moore stated that shortages could become more severe in 2027 and 2028.

Industry Comments On Memory Pricing

Pricing dynamics remain a central focus for the sector. SK Hynix Inc. (NASDAQ:SKHY) Chairman Chey Tae-won stated that AI-driven memory prices remain “abnormally high” and argued that the industry should expand supply rather than maximize profits from shortages. Chey stated overall memory demand could rise 50% to 60% next year, with AI demand climbing 60% to 100%.

Technical Analysis

Sandisk is currently in a challenging technical position, with the price trading significantly below its short-term moving averages. The 20-day SMA is 15.3% below the current price, indicating a bearish sentiment in the near term, while the 50-day SMA is 11.7% below, suggesting continued weakness.

The RSI is currently at 32.16, which is considered neutral but leans towards oversold territory after dipping below 30 on July 15. The 50-day SMA is above the 200-day SMA, which indicates a bullish long-term trend, but the current price is well below both the 20-day and 50-day SMAs. Over the past 12 months, Sandisk Corporation’s stock has seen a staggering performance of 3667.24%, showcasing its potential for growth.

SNDK Price Action: SanDisk shares were down 0.09% at $1588.00 at the time of publication on Wednesday, according to Benzinga Pro data.

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