SanDisk Corporation ( SNDK ) are surging on Thursday. The momentum follows a wave of aggressive price-forecast hikes from Wall Street analysts.

On Tuesday, Citigroup reiterated its buy rating on SanDisk ( SNDK ) and raised its price forecast to $2,025. This follows a bullish trend from earlier in the month, including Bernstein lifting its forecast to $1,700 with an outperform rating on May 4.

Citi Highlights Enterprise Shortages and Partner Strengths

According to a Citi Research note, analysts base their optimistic outlook on persistent enterprise SSD shortages and rising AI data center demand. Citi also highlighted strong results from Kioxia Holdings Corporation, SanDisk’s Japanese memory partner. Analysts from the firm project that NAND demand could outpace supply through 2027.

Samsung Labor Dispute Adds Supply-Side Tailwinds

In addition to internal growth drivers, investors are betting on potential supply disruptions at rival Samsung Electronics Co. ( SSNLF ), Ltd. (OTC:SSNLF). News of a possible worker strike at the South Korean electronics giant has driven traders to position themselves into SanDisk ( SNDK ), expecting a tightening global flash memory marketplace.

Share Buyback Program Anchors Investor Sentiment

The company’s capital allocation strategy further strengthens investor sentiment. Citi explicitly cited SanDisk’s $6 billion share repurchase program as a core driver for future equity value. As retail traders track the supply-side vulnerabilities of major competitors, SanDisk ( SNDK ) remains a primary beneficiary of the structural AI memory boom.

Critical Support and Resistance Levels for SNDK

The bigger picture remains bullish: SNDK is trading 14.2% above its 20-day SMA ($1283.15), 51% above its 50-day SMA ($970.13), 98.4% above its 100-day SMA ($738.31), and 231.5% above its 200-day SMA ($441.86).

Those gaps, plus the 20-day SMA above the 50-day SMA and the 50-day SMA above the 200-day SMA, point to a firmly established uptrend across timeframes.

SNDK Price Action: SanDisk ( SNDK ) shares were up 6.95% at $1377.00 at the time of publication on Thursday, according to Benzinga Pro data.