On July 31, SanDisk Corp. rose 7.66% in pre-market trading, trading at $1334.815/share, with turnover of $164 million, extending the previous session's powerful rebound.

The continued surge is driven by Microsoft's latest quarterly earnings, which significantly exceeded expectations with cloud business growth far surpassing forecasts, sending its stock up over 15% in its best single-day post-earnings performance in 18 years. The results ignited a broad semiconductor rally, with the Philadelphia Semiconductor Index surging over 8%. SanDisk had already soared approximately 26% during the prior regular session, followed by an additional 8.92% gain in after-hours trading. ARM's earnings beat further catalyzed the sector-wide momentum.

Additionally, hedge fund Citadel acquired the entire approximately $16 billion public portfolio of a distressed AI-focused fund at a discount within 36 hours, which had held concentrated long positions in memory stocks including SanDisk and SK Hynix. The removal of this forced-selling overhang provided further support. SanDisk is scheduled to report quarterly earnings on August 5, with consensus EPS estimates at $33.28.

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