Sandisk Investor Day Fuels Rally
On Thursday, Sandisk stock surged after the company outlined targets that included an adjusted gross margin of about 80% and an adjusted free cash flow margin of roughly 50%.
The company also plans to return 100% of excess cash to shareholders after investing in the business. The outlook helped lift sentiment across the memory sector.
Sandisk Stock Technical Analysis
Sandisk remains in a strong long-term uptrend despite recent volatility. The stock trades 77.8% above its 200-day simple moving average of $895.91 and 14.7% above its 100-day SMA of $1,388.98.
