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Why Sandisk Stock Is Skyrocketing Today

The Motley Fool·
Why Sandisk Stock Is Skyrocketing Today

Sandisk stock surged 10.99% on Tuesday as chip stocks rebounded from last week's sell-offs driven by AI valuation concerns. The rally was further boosted by Bernstein raising its price target on Sandisk from $1,700 to $3,000 per share, citing the company's recent long-term contract wins at highly profitable margins. Positive geopolitical news and reassuring economic data also supported the broader chip sector recovery.

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