Sandisk (SNDK) Soars to All-Time High; Up 4,573% in 1 Year

 Sandisk Corp. (NASDAQ:SNDK) is one of the 10 Stocks With Remarkable Resilience.

Sandisk climbed to a fresh all-time high on Wednesday, as investor sentiment was bolstered by Morgan Stanley’s highly optimistic outlook for its stock, having upgraded its price target by 59 percent.

In intra-day trading, Sandisk Corp. (NASDAQ:SNDK) climbed to a record high of $1,861 before trimming gains to finish the session just up by 6.71 percent at $1,831.50 apiece.

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Photo from Sandisk’s website

In a market note, Morgan Stanley raised its price target for the memory giant to $1,750 from $1,100 previously, amid the strong demand for the NAND market, which continues to outstrip supply. In the past year alone, the company skyrocketed by as much as 4,570 percent.

“There’s no quick fix to the memory shortage,” Morgan Stanley said, adding that supply constraints are expected to persist over the next two to three years.

“We don’t think the run of strong performance is over,” it underscored.

The investment firm expects Sandisk Corp. (NASDAQ:SNDK) to grow earnings per share for this year and the next by 12 percent and 24 percent, respectively.

In other news, Sandisk Corp. (NASDAQ:SNDK) is set to participate in the Mizuho Technology Conference on Tuesday, June 9. Investors are expected to watch for the company’s business cues and updated outlook.

While we acknowledge the risk and potential of SNDK as an investment, our conviction lies in the belief that some AI stocks hold greater promise for delivering higher returns and doing so within a shorter time frame. If you are looking for an AI stock that is more promising than SNDK and that has 10,000% upside potential, check out our report about the cheapest AI stock.

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