Why Sandisk Stock Jumped 34% in June
Bullish sentiment for memory chips and a strong report from Micron pushed Sandisk higher last month.
Overview
Sandisk (NASDAQ: SNDK) has been one of the big winners on the stock market over the last year as the maker of flash memory storage products, including USB flash drives and solid-state drives, has seen profits soar due to the memory shortage.
In June, the stock jumped again, rising 34% according to data from S&P Global Market Intelligence, as the company benefited from a strong earnings report from Micron, an industry bellwether, which said that the shortage in the memory sector would last through 2027, which favors continued bumper profits for Sandisk and Micron.
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Details
Source
Originally published at www.fool.com.
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Disclaimer: This article is for informational purposes only and does not constitute investment advice. Data may be delayed up to 15 minutes. Past performance is not indicative of future results. Consult a licensed financial advisor before making investment decisions.