Sandisk Stock Plunged Today. Analysts Say Buy the Dip.

SanDisk shares fell 12.54% Monday as the chip sector sold off, but two major Wall Street firms used the decline to lift their price targets. Goldman Sachs raised its target to $2,200, while Evercore pushed its outlook to $3,100. Both analysts pointed to persistent AI-driven demand for memory chips from data center operators as the rationale behind their bullish stance.

The double-digit drop came during broader weakness across semiconductor stocks, creating what analysts view as a buying opportunity. SanDisk's memory products have benefited from the surge in AI infrastructure buildouts, with hyperscalers and cloud providers expanding capacity to support large language models and other compute-intensive workloads. The Goldman and Evercore upgrades suggest Wall Street expects that demand trajectory to continue despite near-term volatility.

The sharp divergence between Monday's price action and analyst sentiment highlights the tension between technical selling pressure and fundamental conviction in the AI memory story.