SanDisk Corp. (NASDAQ:SNDK) shares are trading lower Tuesday. The move follows a period of intense volatility and record highs fueled by the artificial intelligence memory trade. This pullback occurs despite recent positive catalysts for the storage giant.
Analyst Sentiment Remains Bullish
On Tuesday morning, Evercore ISI Group analyst Amit Daryanani initiated coverage on SanDisk with an Outperform rating. Daryanani announced a price forecast of $1,200.
This follows Bernstein analyst Mark Newman recently lifting his forecast to $1,250.
Nasdaq-100 Inclusion On Horizon
On Friday, the company disclosed it will join the Nasdaq-100 Index on April 20. It will replace Atlassian Corporation (NASDAQ:TEAM). This milestone highlights SanDisk’s growing market presence. Investors often view index inclusion as a long-term liquidity driver for institutional demand.
AI Memory Trade Dynamics
SanDisk has recently served as a proxy for the AI memory sector. The …
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