On September 8, SanDisk Corp. rose 3.19% overnight, trading at $1,811.79 per share, with turnover of approximately $40.91 million.
The move comes amid back-to-back index inclusion catalysts. S&P Dow Jones Indices announced that SanDisk, alongside Palo Alto Networks and Arista Networks, will be added to the S&P 100 Index effective September 21. Separately, MSCI confirmed SanDisk's inclusion in the MSCI All Country World Index, which took effect after the August 31 close. SanDisk ranked among the top three largest additions by total market capitalization, a development expected to structurally increase daily trading volumes and narrow bid-ask spreads as passive funds adjust allocations.
Supporting the broader fundamental backdrop, Q2 global DRAM market revenue reached $147 billion, up 55.9% quarter-over-quarter to a record high. Bank of America projects a further 10%-20% rise in DRAM and NAND spot prices in September due to acute supply shortages and seasonal demand strength. Arete Research recently raised its price target on SanDisk to $3,000, while Mizuho maintained an Outperform rating with a $1,875 target, projecting EPS to grow fivefold between fiscal years ending in 2028.
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