The meteoric rise of Sandisk (NASDAQ: SNDK) stock almost seems unbelievable.
If you had bought in at the initial public offering (IPO) in February 2025 at about $36 per share, you would have seen the shares skyrocket almost 4,100% to their current price of about $1,480
This year alone, Sandisk stock has risen roughly 520% as of May 22. So, if you had bought 100 shares at the IPO, that $3,600 investment would be worth more than $148,000 right now. Sandisk is in the middle of the memory chip supercycle as a leading manufacturer of NAND drives and solid-state drives for data centers, artificial intelligence (AI) computing, mobile phones, video game consoles, and other applications.
It is capitalizing on the next wave of AI. As hyperscalers are building out their infrastructure to handle the huge need for AI computing, they now require capacity for memory and storage. But the thing is, the supply of memory and storage chips can’t keep up with the demand.