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Representative Ro Khanna is sitting on a paper gain of more than 5,000% after purchasing shares of SanDisk Corporation (NASDAQ: SNDK) less than a year ago.
After one of the most extraordinary rallies in semiconductor history, SanDisk (NASDAQ:SNDK | SNDK Price Prediction) sits at $1,958.80 after climbing 725.17% year to date and 4,342.73% over the past year.
Shares of memory and storage companies climbed in premarket trading on Thursday after Apple Chief Executive Tim Cook warned that soaring memory and storage chip prices could force the iPhone maker to raise product prices. Micron Technology rose about 4.7% before the opening bell, while Sandisk gained 4.4%.
Sandisk is rated buy, with a price target of $2,886, reflecting 48% upside driven by robust revenue visibility and structural FCF advantages. SNDK benefits from $41.6B in remaining performance obligations, asset-light JV manufacturing, and customer prepayments, supporting high free cash flow and margin expansion. Consensus revenue estimates for FY26 and FY27 are seen as too conservative, with TrendForce data supporting potential for significant earnings beats and explosive forward guidance.
Sandisk reported $5.95 billion revenue, up 97% sequentially, while gross margins expanded to an exceptional 78.4%. Five multiyear agreements secure over one-third of FY2027 output and include more than $11 billion of guarantees. Data center revenue surged 233% quarter-over-quarter as AI workloads increasingly require larger and more storage-intensive architectures.
Carter Worth, the founder of Worth Charting and a regular on CNBC's Closing Bell, told viewers this week that the memory chip trade has gone too far, too fast.
Sandisk is upgraded to Buy as AI shifts to edge devices, driving explosive local storage demand. SNDK stands to benefit from billions of AI-enabled devices, with Edge its largest and fastest-growing business. Despite a recent rally, SNDK remains undervalued; robust AI-driven demand could justify a $4,000 price target.
SNDK is targeting AI inference-driven NAND demand with enterprise SSDs, multi-year supply deals and improving margins as storage needs scale.
SanDisk (NASDAQ: SNDK) stock's remarkable 5,302% rally since it got spun off from Western Digital (NASDAQ: WDC) in 2025 came at the cost of SNDK flashing a strong sell signal after becoming one of the most overbought equities in history.
Wall Street analysts have set an average 12-month price target of $1,843.44 for SanDisk (NASDAQ: SNDK) stock, based on forecasts from 16 experts over the past three months.
Sandisk is soaring amid rising demand for memory hardware. Shares are still surprisingly fairly valued, but that doesn't mean the company is free from long-term risk.