Sandisk Rebounds Off $1,500 Support as Goldman Lifts Target to $2,200

The $2,200 Call

The bid under SNDK is Goldman Sachs, which lifted its Sandisk target 83% to $2,200 from $1,200 while keeping a Buy rating and telling clients to expect a "very strong quarter". The rationale is squarely about pricing: tight supply conditions across the NAND market, expanding enterprise SSD demand from cloud and hyperscale buyers, and revised-higher NAND pricing expectations. On the HIP-3 perp, that landed as an 11% move to $1,668 — the reclaim started right at the $1,500 zone that had been the line in the sand for the past two sessions.

Why the Memory Complex Sold First

The dip Goldman is buying was manufactured by good news, not bad. Sandisk had slid toward $1,500 support after Samsung's preliminary earnings, with $1,250 floated as the next downside target — a classic sell-the-news unwind where a blowout print from the sector bellwether stokes fears that memory pricing is topping rather than confirming the cycle. That reaction hit a name that is still up more than 600% year-to-date, so the pullback read as much as profit-taking on an extended AI-memory trade as any real change in fundamentals. Goldman's note gave the longs a reason to defend the level.

Tight Supply Meets $51 Billion of New Capacity

The open question is durability, and the clearest counterweight came the same week. SK Hynix announced a $51 billion investment to build a new NAND facility in South Korea by 2029 — the kind of capacity add that historically ends pricing cycles. The muting detail is that SK Hynix itself expects the shortage to persist through the end of the decade, with NAND revenue projected to reach $379 billion by 2027, so new fabs coming online in 2029 do little to loosen 2026 pricing. Sandisk is leaning into that window on the product side, having begun sampling its BiCS10 1Tb TLC 3D NAND aimed at AI-scale workloads. The resolution comes in August, when fiscal Q4 either validates Goldman's 'very strong quarter' or hands the peak-pricing bears their confirmation.