SanDisk Corp (NASDAQ:SNDK) stock fell on Thursday as investors weighed a broader reset in AI hardware expectations against Goldman Sachs' positive view on memory supply tightness.New York-based Goldman Sachs maintained its Buy rating on SanDisk, saying AI-driven demand could keep memory markets undersupplied through at least 2028.The firm said tighter DRAM and NAND supply, stronger pricing power, and more long-term customer contracts could support SanDisk and other major memory producers over the next several years.Technical AnalysisEven with Thursday's pullback, SanDisk is still extended relative to its trend gauges: it's trading 17.8% above the 20-day SMA ($1525.23) and 57.5% above the 50-day SMA ($1141.11), a kind of spacing that often invites sharper dips when sentiment cools.RSI is the cleaner momentum lens here: at 74.17, it's in overbought territory, signaling the move has gotten stretched and can be more vulnerable to profit-taking than to "bad company-specific news."From a structure standpoint, the longer-term trend remains up (20-day SMA above the 50-day, and the 50-day above the 200-day), but the stock is also coming off a recent swing high in May after a swing low in March—so the next few weeks often become a test of whether buyers defend higher lows.Earnings & Analyst OutlookLooking further out, the next major catalyst for the stock arrives with the August 13, 2026 (estimated) earnings report.