Sandisk Corp (NASDAQ:SNDK) stock is up on Friday after being down in the morning, during a broader pullback in the semiconductor memory sector driven by profit-taking.
Nasdaq futures are down 0.26% while S&P 500 futures were little changed.
• SanDisk stock is showing upward movement. What’s pushing SNDK stock higher?
Today’s initial losses and gains followed a gain for Sandisk stock on Thursday trading. That rise came after AI bellwether NVIDIA Corp (NASDAQ:NVDA) reported a quarterly blowout and provided a positive forecast, before Sandisk stock reversed course.
Nvidia Cites Memory Cost Pressures
On Wednesday, Nvidia reported second-quarter revenue of $96 billion and guided for fiscal 2028 revenue to grow approximately 70%. However, Nvidia projected gross margins to decline from 75% in the second quarter to 71%–72% in the fourth quarter.
Nvidia CFO Colette Kress attributed the pressure to memory costs: “The magnitude of the price increase has exceeded our prior expectations and are headed even higher into next year.”
Nvidia noted memory scarcity is “being driven in large part by the AI build-out itself,” affecting suppliers like Micron Technology, SK Hynix and Samsung Electronics.
Supply Limits and Price Adjustments
Nvidia stated demand is growing roughly 100% next year, but supply constraints limit revenue growth to about 70%.
“The unconstrained would be a lot higher,” Nvidia CEO Jensen Huang said. Nvidia expects gross margins to recover in fiscal 2028 as higher product prices take effect to offset memory inflation.
Sandisk and Kioxia Announce Expansion
Separately, on Thursday, Sandisk and Kioxia Corporation announced planned joint investments in Japan exceeding $31 billion (5 trillion yen) through 2032, contingent on Japanese government support.
“In line with our business strategy and financial guidance, these planned investments will ensure our ability to support our customers’ increasing demands,” Sandisk Chairman and CEO David Goeckeler said.
Technical Analysis
From a trend perspective, SanDisk is still holding a long-term uptrend, trading about 50% above its 200-day SMA ($964.71), but the intermediate trend has cooled. The stock is also trading about 10% below its 50-day SMA ($1614.12), which often acts like “overhead supply” when rallies try to restart.
Near-term, price is only slightly above the 20-day SMA ($1445.53), suggesting the stock is trying to stabilize rather than break down immediately. However, the 20-day SMA remains below the 50-day SMA (a bearish crossover), which is a common sign that recent momentum has faded versus the prior up-leg.
RSI is the cleaner momentum read right now: at 48.97, it’s neutral, which fits a stock that’s digesting gains rather than trending hard in either direction.
Key levels traders tend to anchor to:
- Key Resistance: $1,696.50
- Key Support: $1,325
SNDK Stock Price Activity: Sandisk shares were up 0.70% at $1,495.31 at publication on Friday, according to Benzinga Pro data.
Image: daily_creativity / Shutterstock
