Why Sandisk Stock Was Soaring Today
Shares of Sandisk (NASDAQ: SNDK) were moving higher today after the maker of flash memory products gained in sympathy with memory chip leader Micron (NASDAQ: MU), which bounced back after a bullish note from Cantor Fitzgerald this morning.
That set off something of a relief rally in the memory sector, which had been pounded in recent days after Alphabet revealed its new TurboQuant algorithm that can purportedly cut storage requirements, threatening memory chipmakers.
As a result of the broader upswing in the stock market and the Cantor note, Sandisk was up 11.3% as of 12:55 p.m. ET, and Micron had gained 11.4%.
Source Fool.com
Micron Technology Inc. Aktie
353,45 €
-1,46 %
Micron Technology Inc. ist ein klarer Community-Favorit mit mehr Buy- als Sell-Einschätzungen.
Das Community-Kursziel von 425 € für Micron Technology Inc. deutet auf eine deutliche Steigerung um mehr als 20% gegenüber dem aktuellen Kurs von 353.45 € hin.
