Quick Read – SanDisk (SNDK) surged 3,460.95% over the past year on a structural AI memory shortage, posting Q3 revenue of $5.95B (up 251% YoY) with datacenter revenue jumping 233% sequentially and 78.4% gross margins, while securing $42B in multi-year supply agreements with a…
ro long-term debt balance sheet. – SanDisk’s explosive run has priced in substantial gains, with valuation stretched relative to the real but cyclical NAND memory cycle that could compress margins sharply if spot pricing softens or demand normalizes. – The analyst who called NVIDIA in 2010 just named his top 10 stocks and SanDisk wasn’t one of them. Get them here FREE
Few stories in the 2026 market rival the SanDisk (NASDAQ:SNDK) run. The stock has gone from a sleepy Western Digital spinoff to a pure-play AI memory supercycle bet, posting a 3,460.95% gain over the past year. With the stock now trading near $1,380.93, the question is whether the move has more runway or the easy money has already been made.
Our 24/7 Wall St. price target for SanDisk is $1,500, implying roughly 8.6% upside over the next 12 months. We rate the stock a hold with 60% confidence. The AI NAND cycle is real, but valuation has caught up to the story.