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Summary
Sandisk (SNDK) closed at $1,404.77 on October 28, 2026, up 7.66%, while the Nasdaq Composite rose 0.27%.
Financial media tied the rally to SK hynix, which posted record third-quarter results and said it expects memory demand to exceed supply through 2030.
Sandisk has scheduled its fiscal first-quarter 2027 earnings report for October 29, 2026, and the stock still closed 40.33% below its 52-week high.
Gotrade News - In the latest Sandisk stock news, Sandisk (SNDK) shares closed at $1,404.77 on Wednesday, October 28, 2026, up $99.93 or 7.66% from the previous close. Sandisk stock outpaced the Nasdaq Composite by 7.39 percentage points as financial media tied the rally to memory rival SK hynix, which posted record third-quarter results and said it expects memory demand to exceed supply through 2030.
SNDK Trading Data
Data
Value
Closing price
$1,404.77
Change
+$99.93 (+7.66%)
Previous close
$1,304.84
Open
$1,356.60
Day range
$1,343.85 to $1,408.45
Volume
9.3 million shares
30-day average volume
8.5 million shares
52-week range
$181.51 to $2,354.39
Market cap
$205.7 billion
Regular-session close on Wednesday, October 28, 2026, 4:00 p.m. New York time. Stock prices: Yahoo Finance, cross-checked against the closing price on Nasdaq.com. Volume and 30-day average volume: Nasdaq.com. 52-week range: Yahoo Finance daily highs and lows since October 29, 2025. Indices and the 10-year Treasury yield: Yahoo Finance daily closes for the same date.
Sandisk opened at $1,356.60, slipped to a session low of $1,343.85 and then climbed to a high of $1,408.45. It closed near that high, $60.92 above the day's low. Volume reached 9.3 million shares, 9.08% above its average of 8.5 million shares.
The broader market moved far less. The Nasdaq Composite rose 0.27% to 26,549.85, the S&P 500 gained 0.28% to 7,743.98 and the Dow Jones Industrial Average added 0.19% to 52,475.10. Among chip stocks, Micron (MU) rose 5.86%, while Nvidia (NVDA) fell 1.17%.
Even after the jump, Sandisk closed 40.33% below its 52-week high of $2,354.39 and 673.94% above its 52-week low of $181.51.
According to SK hynix's official results release, published on October 28, the memory chipmaker posted third-quarter 2026 revenue of 104.6155 trillion won and operating profit of 83.3338 trillion won, up 32% and 38% from the previous quarter. The company said it expects "the structure in which demand exceeds supply to persist through 2030."
As reported by Motley Fool, Sandisk jumped as much as 6.4% during Wednesday's session, and the publication named "a competitor's bullish financial report" from SK hynix as the catalyst. It contrasted the 2030 outlook with recent predictions that demand for memory chips would peak before 2028.
Storage peer Seagate added to the move. Per 24/7 Wall St., Seagate reported September-quarter results on October 27 with revenue up 61% year over year, and CEO Dave Mosley said, "Absolutely everything we can make above and beyond our plans is being spoken for." The outlet noted that Sandisk stock was still down 23% over the past month.
SNDK Stock Analysis: Supporting Factors and Risks
The next checkpoint is Sandisk's fiscal first-quarter 2027 earnings report, which the company has scheduled for October 29, 2026, according to Sandisk's announcement.
Supporting Factors
Contracted revenue: the contracts Sandisk has signed so far will secure at least $93.9 billion of revenue at floor prices, according to Trefis.
Data center growth: data center revenue hit $5.15 billion in fiscal 2026, up 437% from the prior year, and operating margin reached 78.5% in fiscal Q4 2026, per Trefis.
Company outlook: Sandisk set its fiscal Q1 2027 revenue outlook at $10.3 billion to $10.8 billion, as cited by 24/7 Wall St., and its forecast calls for an adjusted gross margin of 83% to 85%, per Trefis.
Industry backdrop: SK hynix expects demand for memory to exceed supply through 2030, according to its results release.
Risks
NAND price exposure: higher pricing drove about two thirds of revenue growth from fiscal Q3 to Q4 2026, and Trefis said Sandisk's results "remain exposed to the price of NAND, even with the supply contracts in place." It named the split between price and volume as the number to watch in the coming report.
AI spending worries: concerns about AI spending weighed on memory and storage stocks over the past month, according to 24/7 Wall St.
Interest rates: the Federal Reserve's rate decision on October 28 left its benchmark rate unchanged, with two officials preferring a hike, per 24/7 Wall St. The US 10-year Treasury yield rose 5.2 basis points to 5.05% in the session.
This article is for education and information only and is not investment advice. Investment decisions are yours to make after your own research.
Gotrade is the trading name of Gotrade Securities Inc., which is registered with and supervised by the Labuan Financial Services Authority (LFSA). This content is for educational purposes only and does not constitute financial advice. Always do your own research (DYOR) before investing.
M. Alfathan Rahman is a content writer with over 3 years of experience developing digital content strategies across various industries, including fintech. He has experience producing content for tax-related websites and financial education platforms. His focus areas include data research, and crafting financial articles that are informative, accurate, and accessible to investors of all experience levels.
Hendrie Saputra holds a Master of Business Administration (MBA) with a concentration in Business Risk & Finance, along with professional experience in finance, marketing, and project management. He is experienced in analyzing market data and developing research-driven business strategies.
