SanDisk falls as tariff uncertainty tempers Mizuho’s bullish memory outlook

Aug 31, 2026 12:36 (21d ago)

SanDisk shares fell 1.54% to $1,542.61 as tariff uncertainty offset Mizuho’s positive memory-market outlook.
Mizuho’s $1,875 SanDisk target, reduced from $1,900, implies 27.95% upside and accompanied an Outperform rating.
Mizuho forecast fivefold SanDisk earnings growth through fiscal 2028, while BofA said memory shortages could persist beyond 2030.

SanDisk shares fell 1.54% to $1,542.61 as investors weighed possible semiconductor tariffs against Mizuho’s bullish outlook for memory stocks. Mizuho retained an Outperform rating on SanDisk but reduced its target to $1,875 from $1,900, implying 27.95% upside, and forecast fivefold earnings growth between fiscal 2026 and fiscal 2028. The firm also estimated potential share repurchases of 25% to 30% using $30 billion to $50 billion in free cash flow during 2027 and 2028. Separately, Mizuho cut Micron’s target to $1,300 from $1,375, implying 39.36% upside, while BofA maintained a BUY rating and 3,000,000 KRW price objective for SK Hynix, or 74.93% upside, saying supply constraints could persist beyond 2030.