Sandisk Shares Surge
Shares of Sandisk (NASDAQ: SNDK) rose 3.4% on Monday morning, continuing a strong upward trend following last week’s daily gains. This surge follows a significant price target increase from Susquehanna analyst Mehdi Hosseini, who raised Sandisk’s target to $3,250 per share, reflecting a 62.5% hike. Hosseini forecasts sustained tight memory supplies through 2027, driven by growing demand for artificial intelligence applications.
Additionally, Sandisk’s rise is bolstered by positive news from Nvidia (NASDAQ: NVDA), which announced its move into CPU production with the upcoming RTX Spark superchip, set to be used in various leading laptop brands. This announcement aligns with Hosseini’s expectations of increasing demand for AI computing, contributing to Sandisk’s stock performance.
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