Sandisk Corp is trading 3.3% down today at $1771.97 as investors rotate out of high-valuation AI and semiconductor names following weaker sentiment in tech hardware.
- The decline follows a significant recent run-up and a bullish price target hike from Morgan Stanley on Wednesday, suggesting today's pressure is tied to sector-wide profit-taking rather than company-specific news.
- Despite the pullback, major brokerages like Goldman Sachs remain positive on the long-term AI memory growth story for the company.