SanDisk stock falls amid memory sector retreat

Investing.com -- SanDisk Corporation shares declined 2.4% in morning trading on Thursday to $1,345, as memory stocks across the U.S. market moved lower in a retreat that began before the opening bell and continued through the regular session.

The drop occurred as investors reduced their positions in NAND flash companies ahead of an upcoming earnings report. The selling pressure reflected macro concerns and competitive worries that have affected the sector for multiple sessions, rather than any specific negative news about individual companies on Thursday.

Mizuho maintained its Outperform rating on SanDisk on Thursday with a price target of $2,050. The firm said NAND pricing should stay stable through 2027 because capacity is expected to remain largely unchanged outside China, and described the shares as undervalued at their current price.

The analyst endorsement did not stop the stock's decline. Investors remained focused on the possibility that Chinese manufacturers such as CXMT could reduce SanDisk's pricing power in the future.

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