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Why Sandisk Stock Bounced Back Today

TheMotleyFool

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Fresh off a near $70-a-share drop Tuesday, shares of Sandisk (NASDAQ: SNDK) bounced back on Wednesday -- and investors can thank Seagate Technology (NASDAQ: STX) for the bump. Seagate crushed analyst forecasts last night, earning $4.10 per share versus a $3.48 non-GAAP forecast. Sales of $3.1 billion likewise beat expectations for less than $3 billion.

Investors are exuberant, and they're buying computer memory stocks hand over fist this morning. Sandisk is up 8.5% through 10:25 a.m. ET.

Source Fool.com

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