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Why Sandisk Rallied Today

TheMotleyFool

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Shares of Sandisk Corp. (NASDAQ: SNDK) rallied another 11.5% on Wednesday as of 12:14 p.m. ET.

Sandisk was formerly the NAND flash segment of Western Digital, before it was spun out from Western Digital early this year. The stock has subsequently rocketed higher, after a long malaise in NAND flash pricing seems to have given way to a new "supercycle" in NAND flash prices.

Positive commentary over AI demand from other companies and price hikes from sell-side analysts seem to be fueling another rally for Sandisk today, which is now up over 300% on the year.

Source Fool.com

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