Shares of Sandisk surged as much as 25% in early trading Friday after the company said it sees adjusted earnings per share between $12 and $14 in the third quarter. The upside is being “driven by the demand and pricing implications of an unprecedented datacenter/AI cycle,” Raymond James analyst Melissa Fairbanks wrote in a note to clients, upgrading Sandisk to outperform from market perform with a $725 price target.