SanDisk Corp. (NASDAQ:SNDK) shares are experiencing a minor pullback Monday. The move follows a rally where the stock recently hit all-time highs above $1,560. This retreat comes after the stock surged over 12% on Friday.

Profit-Taking Hits Record Highs

The current decline appears driven by investors pulling capital off the table. Despite the dip, the stock remains in a strong upward trend. SanDisk has dominated the AI storage narrative, gaining 4,086% since its February 2025 spin-off from Western Digital Corp. (NASDAQ:WDC).

Short Interest and Burry’s Warning

Short interest recently increased from 8.06 million to 9.75 million shares. This represents 10.33% of the float.

Adding to the tension, Michael Burry noted on X that the surge is “more extreme” than the 1999 bubble. Burry stated, “SNDK is beating that by 1300bps,” referring to Qualcomm Inc. (NASDAQ:QCOM) and its dot-com era records.

The AI Memory Bottleneck

SanDisk reported third-quarter revenue of $5.95 billion, up 251% year-over-year.

Analysts like Amit Daryanani of Evercore ISI recently praised the company’s 80% gross margins. Tightness in NAND supply is expected to extend into 2028.

Sandisk Stock: Key Levels and Momentum Analysis

From a trend perspective, the stock remains firmly bullish: it’s trading 41.2% above its 20-day SMA ($1087.09) and 296.9% above its 200-day SMA ($386.82). The 20-day SMA is also above the 50-day SMA, and the 50-day SMA is above the 200-day SMA.

Momentum is the bigger near-term issue than trend, with RSI at 79.77.

  • Key Resistance: $1564
  • Key Support: $1087.09

SanDisk Price Action

SNDK Price Action: SanDisk shares were down 1.37% at $1540.96 at the time of publication on Monday. The stock is trading near its 52-week high of $1564.00, according to Benzinga Pro data.

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