New York, February 12, 2026, 10:11 EST — Regular session.
- Sandisk shares rose 10.3% to $661.18 in morning trade
- Seagate, Western Digital and Micron also climbed, tracking the storage rally
- Fresh HBM4 shipment headlines and tighter-supply talk put memory pricing back in focus
Sandisk Corp shares jumped 10.3% to $661.18 in morning trading on Thursday, hitting an intraday high of $666.80 as buyers returned to the memory-and-storage trade.
The move shows the market is still treating memory supply as the near-term story, with AI infrastructure demand doing most of the work. That matters because price moves in memory can flow straight into margins, fast.
Sandisk was not alone. Seagate Technology rose 11.2%, Western Digital gained 8.2% and Micron Technology added 4.6%, as the group moved higher together.
One trigger came from Asia, where Samsung Electronics said it has shipped its latest HBM4 high-bandwidth memory chips to customers. HBM is a premium form of DRAM — working memory — used in AI accelerators, and the update kept the “tight supply” theme on traders’ screens. (Reuters)
The supply squeeze is also showing up on the demand side. Lenovo, the world’s biggest PC maker, warned memory costs were pressuring PC shipments and said it has raised prices to blunt the impact. (Reuters)
A day earlier, SMIC chief executive Zhao Haijun told the Wall Street Journal the industry was “panicked” about memory supply, with companies overbooking in a scramble for components. The report said memory prices have risen 80%-90% since late 2025, while Zhao suggested additional supply could show up in about nine months. (The Wall Street Journal)
In the U.S., Micron got a fresh push after CFO Mark Murphy said at a Wolfe Research conference that its next-gen HBM4 is already in high-volume production and shipping. Morgan Stanley analyst Joseph Moore said Micron was likely to exceed revenue projections as prices rise for DRAM and NAND — the flash memory used in storage devices. (MarketWatch)
Sandisk has been leaning on the same demand-and-pricing narrative since it was spun off from Western Digital in February 2025. The company reported fiscal second-quarter revenue of $3.03 billion and non-GAAP profit of $6.20 per share, and forecast third-quarter revenue of $4.4 billion to $4.8 billion with non-GAAP earnings of $12 to $14 per share. CEO David Goeckeler said the quarter showed the company’s ability to benefit from “better product mix” and accelerating enterprise SSD deployments. (Sandisk)
But the setup is not one-way. Memory cycles have a habit of turning on capacity and demand shocks, and higher component costs can eventually choke off end-market volumes if device makers pull back.
What investors watch next is Friday’s U.S. consumer price index report for January, due Feb. 13 at 8:30 a.m. ET, which can reset rate expectations and risk appetite across tech. For Sandisk, traders will also be looking for confirmation that memory pricing stays firm into the spring. (Bls)
