Sandisk (SNDK) Stock Jumps 18% as Micron’s Blowout Quarter Sets the Tone

TLDR

• Sandisk stock surged 18% Thursday after rival Micron crushed Q3 earnings, reporting $25.11 EPS vs. $20.78 expected and $41.5B in revenue.
• Sandisk doesn’t report its own earnings until Aug. 24, but analysts expect EPS to more than double sequentially to $33.72.
• Sandisk is up 853% year-to-date and 4,670% over the past 12 months.
• The stock’s 14-month RSI hit 99.1, placing it firmly in overbought territory by technical measures.
• Sandisk is trading 246% above its 200-day moving average and 51% above its 50-day moving average.

Sandisk (SNDK) stock jumped 18% on Thursday, hitting $2,263.57, after memory rival Micron (MU) posted a blowout fiscal Q3 earnings report that sent both stocks sharply higher.

Sandisk Corporation, SNDK

Micron came in at $25.11 per share in adjusted earnings, well above the $20.78 Wall Street had penciled in. Revenue hit $41.5 billion for the quarter, roughly quadrupling year over year and topping estimates of $35.8 billion.

Sandisk doesn’t report its own results until Aug. 24, but the Micron print gave investors a preview of what the memory market looks like right now.

Analysts are already expecting big things from Sandisk’s upcoming report. Current forecasts call for earnings of $33.72 per share, which would represent more than double the previous quarter’s figure.

Micron’s GAAP profits rose 104% sequentially in its latest quarter. Investors appear to be betting that Sandisk, with two more months of strong memory pricing behind it, can do the same.

AI Demand Keeps Supply Tight

Micron CEO Sanjay Mehrotra said on the earnings call that AI-driven demand remains strong and that the company is investing at record levels to keep up. Even so, he doesn’t see supply catching up with demand anytime soon.

That supply-demand imbalance is part of what’s been driving Sandisk’s run. The stock has gained 853% so far this year and is up 4,670% over the past 12 months, fueled by AI data center spending and tight memory supply.

Both Micron and Sandisk are also locking in long-term supply contracts with customers at current elevated margins. Micron said it’s commanding operating margins above 80% on some products. Sandisk is pursuing a similar strategy, which could help protect its margins even if conditions eventually soften.

Is Sandisk Overbought?

The gains have drawn attention from traders watching the technicals closely. Prediction markets platform Polymarket last week called Sandisk “officially the most overbought stock in history,” pointing to its momentum metrics.

The numbers back up at least some of that concern. Sandisk’s 14-month RSI stood at 99.1 as of Wednesday, according to Dow Jones Market Data. Anything above 70 is generally considered overbought. For context, the stock’s all-time high 14-day RSI was 95.32, hit back in September 2025.

On a shorter timeframe, the 14-day RSI was 55.8 at Wednesday’s close, which is technically neutral. But the longer-term picture is harder to ignore.

Sandisk is also trading 246% above its 200-day moving average, currently sitting near $652, and 51% above its 50-day moving average at $1,489.

The stock has only been public for about 16 months, having spun off from Western Digital. In that time, it has gone from a $40 low to a high of $2,354.39.

Sandisk’s market cap now stands at $284 billion.

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