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SanDisk Falls 10.4% on Friday as Memory Stock Rally Fades

GateNews
Stocks

According to Barron's, SanDisk dropped 10.4% to $2,090.71 on Friday, June 26, as tech stocks retreated despite gains from Micron's upbeat earnings the previous day. Memory sector peers also declined, with Seagate Technology down 12%, Western Digital down 13%, and Micron down 6.6%.

Citi analyst Asiya Merchant maintained a buy rating on SanDisk and raised the price target from $2,025 to $2,500, citing expectations that tight NAND supply conditions will persist into next year as demand continues to grow.

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