Sandisk Stock Rebounds 6% to Snap Seven-Day Losing Streak as Memory Chipmakers Recover From CXMT Fears

NEW YORK — Shares of Sandisk rose more than 6% on Monday, snapping a seven-session losing streak as memory chip stocks rebounded from a sell-off driven by concerns about competition from China.

Sandisk shares were up $84.19, or 6.48%, at $1,383.49 in morning trading on the Nasdaq. The company has a market value of about $200 billion.

The stock had closed Friday at $1,299.30, down 6.85% on the day, capping seven straight lower closes that began Oct. 8. Shares fell about 15% last week.

Memory stocks under pressure

Memory chip stocks have been hit in recent days by concerns that China's ChangXin Memory Technologies, or CXMT, is advancing its chip technology faster than expected, potentially increasing global supply and pressuring prices.

The fears contributed to sharp declines in Samsung Electronics and SK Hynix in South Korea last week and weighed on Micron Technology and Sandisk in the United States.

Some analysts have argued that the threat to Sandisk is overstated, since CXMT's advances relate mainly to DRAM, while Sandisk focuses on NAND flash memory.

Memory stocks were also hurt by hotter-than-expected U.S. inflation data, which reduced expectations for near-term interest rate cuts, and concerns about debt-fueled spending on AI infrastructure.

Spectacular run

Sandisk has been one of the market's best performers. Its shares are up nearly 780% over the past year, driven by soaring demand for memory used in AI data centers and rising flash memory prices. Sandisk was the best-performing stock in the S&P 500 for most of 2026.

The stock reached a record closing high of $2,335 in late June, and even after Monday's gain it remains about 40% below that level.

Analysts remain bullish

Wall Street remains largely positive on Sandisk. Of 17 analysts covering the stock, 15 rate it a Buy and two rate it a Hold, with an average price target of about $2,206, according to Google Finance data.

The company trades at about 17.6 times trailing earnings, a relatively modest multiple compared with many other AI-related stocks.

What's next

Sandisk is scheduled to report quarterly results on Oct. 29. Investors will look for updates on NAND pricing, AI-related demand and whether competitive pressure from China is affecting its outlook.