Why Sandisk Stock Keeps Going Up
Key Points
Susquehanna raised its Sandisk price target by 62.5% on Friday.
This morning, Nvidia announced a new CPU for AI inference that could boost memory demand.
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After surging in share price every single day last week, Sandisk (NASDAQ: SNDK) stock is starting off the month of June right with another 3.4% gain Monday morning (as of 9:45 a.m. ET).
Shares of the computer memory-maker appear to be getting a lift both from positive news out of Nvidia (NASDAQ: NVDA) and also enjoying a tailwind from yet another price target hike that Sandisk received on Friday.
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Susquehanna loves Sandisk
Let's address the PT hike first. On Friday, Susquehanna analyst Mehdi Hosseini added 62.5% to his price target on Sandisk, lifting the "positive" rated stock's target to $3,250 per share. Hosseini is gaining "growing confidence," he says, that profit margins in the computer memory space are sustainable in the long term and will not devolve into the usual boom-and-bust cycle common among semiconductor stocks.
Hosseini is forecasting tight memory supplies through 2027, keeping prices high at least that long. Indeed, prices might keep rising because demand for artificial intelligence "inferencing" (i.e., AI answering questions rather than training AI systems to answer questions) is still growing. The analyst expects this trend to continue into at least Q3 2026.
Nvidia and Sandisk
The other big news moving Sandisk today is Nvidia's announcement that it's moving deeper into the CPU game.
Nvidia says it has a new "superchip" in the works, called the RTX Spark, featuring a new N1X CPU that it will debut across a whole line of laptop computers from Microsoft (NASDAQ: MSFT), Dell (NYSE: DELL), HP (NYSE: HPQ), ASUS, Lenovo, and MSI. Nvidia has also shifted into full production of its new Vera CPU, which will be used for inference by OpenAI, Anthropic, and SpaceX.
That last point aligns well with Hosseini's prediction of increased inference demand. And that's probably why Sandisk stock is up today.
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Rich Smith has no position in any of the stocks mentioned. The Motley Fool has positions in and recommends HP, Microsoft, and Nvidia. The Motley Fool has a disclosure policy.
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