Key Takeaways
- SanDisk shares climbed 18% Thursday following competitor Micron’s exceptional Q3 performance, which showed $25.11 EPS versus $20.78 consensus and $41.5B revenue.
- SanDisk’s earnings announcement is scheduled for Aug. 24, with analysts projecting EPS of $33.72, representing more than a sequential doubling.
- Year-to-date gains for SanDisk stand at 853%, while the 12-month return has reached 4,670%.
- Technical indicators show the 14-month RSI at 99.1, suggesting significantly overbought conditions.
- The stock currently trades 246% above its 200-day moving average and 51% over its 50-day moving average.
SanDisk (SNDK) shares experienced an 18% surge on Thursday, reaching $2,263.57, propelled by competitor Micron (MU) delivering exceptional fiscal Q3 results that lifted the entire memory sector.
Micron reported adjusted earnings of $25.11 per share, significantly exceeding the $20.78 analyst consensus. Quarterly revenue reached $41.5 billion, approximately quadrupling on a year-over-year basis and surpassing the $35.8 billion estimate.
While SanDisk won’t unveil its own quarterly performance until Aug. 24, the Micron results provided market participants with valuable insight into current memory sector dynamics.
Wall Street analysts have elevated expectations for SanDisk’s forthcoming release. Consensus estimates point to earnings of $33.72 per share, which would mark more than a 100% increase from the preceding quarter.
Micron’s GAAP profitability jumped 104% quarter-over-quarter in its most recent period. Market participants appear to be anticipating that SanDisk, benefiting from two additional months of favorable memory pricing trends, could deliver comparable growth.
Artificial Intelligence Demand Continues to Constrain Supply
During Micron’s earnings conference call, CEO Sanjay Mehrotra emphasized that AI-related demand remains robust and the company is deploying capital at unprecedented levels to expand capacity. Despite these efforts, he indicated that supply constraints will likely persist.
This supply-demand dynamic has been a key driver behind Sandisk’s remarkable rally. The shares have appreciated 853% year-to-date and 4,670% over the trailing 12-month period, powered by AI data center infrastructure investment and constrained memory availability.
Both companies are securing extended-term supply agreements with clients at current premium pricing levels. Micron disclosed it’s achieving operating margins exceeding 80% on certain product lines. SanDisk is implementing a comparable approach, which could sustain its margin profile even if market conditions eventually moderate.
Has SanDisk Reached Overbought Levels?
The extraordinary gains have attracted scrutiny from traders monitoring technical signals. Polymarket, a prediction markets platform, recently characterized SanDisk as “officially the most overbought stock in history,” citing its momentum indicators.
The data supports these concerns to some degree. SanDisk’s 14-month RSI registered 99.1 as of Wednesday, based on Dow Jones Market Data. Traditional technical analysis considers readings above 70 as overbought territory. Notably, the stock’s record 14-day RSI reached 95.32 in September 2025.
On a shorter measurement period, the 14-day RSI closed at 55.8 on Wednesday, which falls within neutral range. However, the extended timeframe indicators are more challenging to dismiss.
SanDisk is currently valued 246% above its 200-day moving average, which sits around $652, and 51% above its 50-day moving average at $1,489.
The company has traded publicly for approximately 16 months following its separation from Western Digital. During this period, shares have climbed from a $40 low point to a peak of $2,354.39.
SanDisk’s current market capitalization sits at $284 billion.
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