Sandisk Falls Despite BofA Target Hike
Yahoo Finance ·
Sandisk Falls Despite BofA Target Hike Moz Farooque ACCA Wed, July 1, 2026 at 4:03 PM EDT 1 min read SNDK This article first appeared on GuruFocus . Sandisk ( NASDAQ:SNDK ) fell more than 8% Wednesday even after Bank of America raised its price target, as broader weakness in AI and memory stocks outweighed the bullish call. BofA lifted its Sandisk target to $2,500 from $2,100 and kept a Buy rating, citing a NAND supply-demand imbalance that could last through 2027. Analyst Wamsi Mohan said pricing should stay stronger for longer, though quarter-over-quarter gains may slow over time. Warning! GuruFocus has detected 7 Warning Signs with SNDK. Is SNDK fairly valued? Test your thesis with our free DCF calculator. For the June quarter, BofA models NAND bit growth of 13% quarter over quarter and average selling price growth of 35%. The firm said Sandisk's actual pricing strength will depend on product mix and how many near-term fixed-price contracts are signed. the split is important. BofA still sees strong fundamentals, but the stock's drop shows memory names remain vulnerable after a huge rally. The next thing to watch is whether Sandisk confirms strong NAND pricing in its next earnings update.
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