AI infrastructure spending is boosting memory demand as Sandisk and Micron compete to capitalize on the next wave of growth.
SanDisk stock has continued its weakness this week, falling to its lowest level since May 22. It has dropped by 35% from its highest level this year.
Continued supply shortages, dramatic price increases, surging AI demand, and persistent competition across international markets have all contributed to volatility in the computer memory industry. With the impending IPO of China's ChangXin Memory Technologies, the landscape is likely to only become more competitive and uncertain in the near-term.
SanDisk's ascent on the NASDAQ this year raises a key question: does the AI memory supercycle still have room to run, or has the easy money already been made?
Wedbush is making a bold call on memory chip maker Sandisk NASDAQ: SNDK. The firm aggressively raised its targets for revenue, earnings, and stock price, citing pricing trends and a high likelihood that management had underestimated the strength.
SanDisk stock (NASDAQ: SNDK) suffered another bruising session on Monday, dropping 12.6% to $1,673.97 as investors rushed out of memory and semiconductor stocks. The decline continued after the close, with the stock slipping a further 2.4% by late trading.
One new stock-price target implies nearly 85% upside from current levels.
Evercore ISI has raised its SanDisk (NASDAQ: SNDK) stock price target to $3,100 while maintaining an ‘Outperform' rating on the memory storage company.
SanDisk's BiCS10 delivers 59% higher bit density while production has already begun, reducing execution risk well ahead of commercialization. Data center revenue surged more than 230% sequentially as AI inference, KV cache and enterprise SSD demand become the primary growth drivers. Five multi-year agreements secure approximately $42 billion of minimum revenue with over $11 billion of financial guarantees, fundamentally improving earnings visibility.
SanDisk (NASDAQ:SNDK) could see upside in its upcoming fiscal fourth-quarter 2026 report, according to Wedbush Securities, which raised its price target on the stock to $2,000 from $1,200. The semiconductor firm's management had guided fiscal fourth-quarter sales to a range of $7.75 billion to $8.25 billion, with non-GAAP earnings per share of $30 to $33.
Sandisk Corporation remains a high-conviction beneficiary of the emerging AI NAND supercycle, as agentic inference expands demand for both capacity- and performance-driven data center storage. The latest stock pullback could represent the last discounted opportunity to participate in SNDK's final re-rating for AI NAND demand upside before the broader industry supply-demand imbalance eases in 2028. Sandisk's expanding QLC, TLC, and future high-bandwidth flash roadmap should deepen its penetration across the AI memory hierarchy, moving SNDK beyond cold storage into higher-value opportunities closer to compute.
SanDisk (NASDAQ:SNDK | SNDK Price Prediction | SNDK Price Prediction) has become the strangest stock in the S&P 500.