Sandisk shares rise on Nasdaq-100 inclusion

Sandisk’s shares jumped roughly 6% to about $905 after the company was announced for addition to the Nasdaq-100 (US Tech 100) effective before the open on April 20. The inclusion is likely to prompt index-related buying and attention ahead of Sandisk’s April 30 earnings. Jefferies raised its price target to $1,000, citing strong NAND pricing, AI-driven demand, and expected data-center eSSD shipments, and lifted near-term ASP and longer-term revenue and earnings assumptions. The stock replaces Atlassian in the index, whose shares have plunged over 62% year-to-date. Overall market impact is bullish for Sandisk and could drive further price appreciation and positive estimate revisions in the memory sector.