Sandisk shares fell roughly 20% over the past month as the semiconductor sector suffered a massive sell-off that erased $1.3 trillion in value from 20 of the world's most valuable chip stocks between July 24 and 28. The decline was driven by concerns over AI infrastructure spending, questions about whether memory and storage supply bottlenecks will ease in coming years, and profit-taking after Sandisk's stock surged over 3,000% in the last 12 months. Despite the drop, 77% of 30 analysts tracked by CNN rate the stock a buy, with a median one-year price target of $2,500, implying significant upside from its August 5 opening price of $1,399.94. The supply-demand imbalance for memory and storage needed for AI is expected to persist until at least 2028, according to analyst forecasts and comments from competitor Micron Technology.
Micron Technology Inc
Sandisk Corp
NVIDIA Corporation