Sandisk (SNDK.O) rises 1.5% to $864.1 premarket
Set to join Nasdaq-100 index (.NDX) , effective before markets open on April 20, replacing enterprise software developer Atlassian (TEAM.O)
TEAM eases 0.4%
NDX comprises 100 largest listed non-financial companies
Jefferies raises PT on SNDK to $1,000 from $700, among highest on Wall Street, per data compiled by LSEG
Expects ongoing long-term contract negotiations, relentless AI demand to push memory chip prices higher, which could be positive for Sandisk’s earnings
As of last close, SNDK up more than 258% this year; stock surged more than 2,300% since listing on February 2025
Memory-chip makers SNDK, Western Digital (WDC.O) , Micron (MU.O) rallying since last year on staggering demand for hard drives in global race to scale AI-related infrastructure

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BUZZ-Sandisk rises after memory chipmaker to join Nasdaq-100