Sandisk Stock Surges 18% Following Micron’s Strong Earnings Report

Sandisk shares soared 18% to $2,263.57 on Thursday, buoyed by Micron's exceptional fiscal Q3 performance. Micron reported adjusted earnings of $25.11 per share, significantly surpassing the $20.78 consensus estimate, with revenue reaching $41.5 billion—a fourfold increase year-over-year.

Analysts anticipate Sandisk's upcoming earnings report on August 24 to reveal a sequential doubling of EPS to $33.72. The stock's year-to-date gain of 853% and 12-month rally of 4,670% reflect intense investor optimism, though technical indicators suggest overbought conditions with a 14-month RSI of 99.1.

The memory sector's bullish momentum, underscored by Micron's 104% sequential profit growth, has set a high bar for Sandisk. Traders are pricing in continued strength in NAND flash and DRAM markets, where both companies operate.