SanDisk stock (NASDAQ: SNDK) touched a yearly high of $2,354 in an unprecedented rally of more than 3,000% in a year. The market’s reality is that what goes up must come down, and the leading high-bandwidth memory (HBM) manufacturer is no exception. SNDK plunged below $1,000 in July, touching a yearly low of $985. So the upward swing in 2026 made the equity reach $2,354 and also a downward trajectory to $985. The difference between the high and low is vast, highlighting the heightened volatility in the AI sector.
Now that SanDisk stock has seen both $2,300 and $985, where will its price head next? SNDK opened Thursday’s trading session at $1,344 and is having a relatively safe month in August. It has spiked nearly 6% this month and remains on the front foot in the indices. However, there is fear among investors about taking an entry position now. The fear stems from sudden price crashes that have been affecting the AI market this year. In this article, we will explain whether SanDisk stock can rise to $2,000 first or will it go below $1,000.
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$1,000 First or $2,000? Where Will SanDisk Stock Trade Next?
The semiconductor market has been hyper-aggressive in its rise, and equally hostile during the downturns. Both feet are placed equally on two boats, and the one that wobbles dictates its price. Currently, the foot that can push the equity backward is gaining more strength than the one that can push it forward. First, the market is experiencing a macroeconomic and memory cycle cooling phase as the production and supplies have already been locked in. This led to the rapid 2026 price surge, which traders enjoyed this year.
Memory and storage markets have always been cyclic and have seen boom-bust periods historically. Things are turning sour for SanDisk stock as Samsung has now taken the lead in NAND production capacity. It took the number one spot, eating up a lion’s share of the market at 25%. SanDisk is far behind at 11%, and 2027 could be a testing point for SNDK. The semiconductor market is harsh and unforgiving, and any slump in production could make the equity plunge in value. In conclusion, SanDisk stock has more chances of falling to $1,000 first than reaching $2,000.