On August 17, SanDisk Corp. rose 3.83% in regular trading, trading at $1708.93/share, with turnover of $2.725 billion, extending its recent strong rally.
On the news front, regulatory filings revealed that AI-focused hedge fund Situational Awareness substantially increased its SanDisk position to 2,495,344 shares in Q2, with combined holdings in two storage companies totaling approximately $11 billion, representing roughly one-quarter of the fund's net assets. Meanwhile, SanDisk's recent Investor Day long-term financial model continues to fuel bullish sentiment. The company projected mid-to-high double-digit revenue growth for FY2028-2030, non-GAAP gross margins of approximately 80%, operating margins of approximately 75%, and committed to returning 100% of excess cash to shareholders. JPMorgan upgraded SanDisk to Overweight with a $2,250 target price, while Goldman Sachs reiterated its Buy rating with a $2,200 target. The stock has surged over 35% in the past five trading sessions.
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