SanDisk shares jump 14.5% as memory supply concerns rise

Shares of SanDisk surged sharply in trading on Thursday, June 11, 2026, climbing approximately 14.5% to close near $1,881. This rally reversed a recent decline for memory and storage stocks, with industry peers like Western Digital and Micron Technology also posting significant gains. The bounce was sparked by long-term capacity announcements and bolstered by a wave of bullish analyst reports highlighting persistent supply constraints in the NAND memory market.

The immediate catalyst was news from South Korea's SK Group, whose chairman stated that SK Hynix plans to roughly double its wafer capacity within five years and triple it by around 2034 to keep pace with surging demand. Industry observers suggest even these ambitious plans may be insufficient to meet the explosive demand for memory driven by the build-out of artificial intelligence infrastructure. This framing reinforced a structural positive outlook for memory suppliers, with SanDisk positioned as a major beneficiary through its NAND flash products.

This outlook was underscored by a series of analyst actions earlier in the week. Bank of America raised its price target on SanDisk to $2,100 from $1,550, maintaining a Buy...