SanDisk Corp. (NASDAQ:SNDK) shares are fluctuating Wednesday even as Mizuho urged investors to buy the weakness. Here’s what you should know.
- SanDisk shares are experiencing volatility. What’s driving the move in SNDK stock today?
Mizuho Calls SanDisk Pullback a Buying Opportunity
Mizuho is sticking with Outperform and a $2,050 target as SanDisk approaches its October 29 report on the September quarter.
The firm builds its bullish case on AI workloads. KV cache and agentic AI are driving faster demand growth for NAND flash memory, and supply is not keeping pace, Investing.com reported.
Little new NAND capacity is coming online outside China. That backdrop should keep pricing solid through 2027, in Mizuho’s view. A change in product mix could tighten supply more: Mizuho says SLC NAND may take a bigger share in 2027 as Kioxia’s XL-Flash chases low latency and high performance.
Three of the biggest cloud operators sit behind the demand forecast: Meta, Alphabet and Oracle Cloud Infrastructure. They are expected to buy far more enterprise SSDs, the type used for KV cache and AI work, with orders building through 2027 and into 2028.
Other Analysts Weigh in On SanDisk
The wider Street leans bullish. Analysts average a Buy rating and a $2,303.57 price forecast. Two other recent calls:
- On Sept. 22, Rosenblatt began covering the stock with a Buy and a $2,400 target.
- Back on Aug. 25, Mizuho cut its price objective to $1,875.
SNDK Shares Are Fluctuating
SNDK Price Action: SanDisk shares were up 0.36% at $1370.31 at the time of publication on Wednesday, according to Benzinga Pro.
Image: PJ McDonnell/Shutterstock
