NEW YORK, Feb 12, 2026, 09:34 (EST) — Regular session
- Sandisk shares rise about 8% in early Nasdaq trade, after a 10.7% jump a day earlier
- Kioxia’s upbeat guidance and “sold out” 2026 NAND capacity lifts memory names
- Traders look for follow-through in pricing, then Sandisk’s next quarterly update in May
Sandisk Corporation (SNDK) shares jumped about 8% to $645.54 in early Nasdaq trade on Thursday, extending a sharp rebound for the flash-memory maker. (Barchart)
The move followed a jolt from Japan’s Kioxia, which forecast fourth-quarter revenue of about 890 billion yen at the midpoint and said its 2026 NAND flash capacity is already sold out. “We expect KIOXIA to achieve a net cash position in mid-2026, at which point shareholder returns may be considered,” Morgan Stanley analyst Kazuo Yoshikawa wrote, lifting his price target. (Investing)
NAND is a type of flash memory used in solid-state drives, phones and data centers, and Sandisk relies heavily on Kioxia for manufacturing and supply. “I’m structurally still very positive on the NAND market,” said Joseph Wrenn, Asia tech specialist at Mizuho, as the Kioxia update pushed other memory stocks higher too. (Streetinsider)
Sandisk closed up 10.7% on Wednesday at $599.34, a day after it slid about 7%. (StockAnalysis)
The whipsaw matters because the memory trade has become a proxy for how far the AI buildout can keep stretching supply. Tight supply can lift prices quickly, but it can also cap volumes if customers simply cannot get parts.
Sandisk last month forecast fiscal third-quarter revenue of $4.4 billion to $4.8 billion and non-GAAP profit of $12 to $14 a share, after reporting fiscal second-quarter revenue of $3.03 billion. Chief executive David Goeckeler said the “critical role” of the firm’s products in powering AI was “being recognized.” (Sandisk)
The company also extended its long-running joint venture agreements with Kioxia through 2034, agreeing to pay $1.165 billion for manufacturing services and supply availability, the companies said. (Sandisk)
Investors have leaned on read-throughs from suppliers and peers because Sandisk’s own shipments depend on allocations and output in Japan. Thursday’s early surge put the stock back closer to the middle of its February swing range after a quick pullback from recent highs.
But the memory cycle has a long history of snapping back. If PC and smartphone demand weakens further, or new supply ramps faster than expected, pricing power can fade and the stock’s volatility can bite.
For the rest of Thursday’s session, traders will watch whether the rally holds once the first reaction to Kioxia’s outlook passes, and whether the broader chip group stays supported.
Sandisk is expected to report its next results on May 13, according to Investing.com, a date investors are circling for detail on margins, supply constraints and whether price gains are sticking into the next quarter. (Investing)
