Sandisk has sold off sharply, but I view this as a potential dip-buying opportunity given strong AI and memory market tailwinds. NAND and HBM supply remains structurally tight, with Wall Street price targets accelerating and revenue/EPS guidance implying continued triple-digit growth. Macro headwinds from Fed hawkishness may ease in the next 2-3 months, potentially reigniting risk appetite for growth and AI stocks like SNDK.
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Shares of SanDisk Inc. (SNDK) fell sharply in trading on Tuesday as a broad selloff in memory-chip stocks spread from South Korea to US markets despite strong preliminary earnings from Samsung Electronics. SanDisk shares declined 8% after falling 23% over the previous three trading sessions.
A stock that traded at $45 a year ago now changes hands near $1,729. That is a 3,718% gain in twelve months for SanDisk (NASDAQ:SNDK | SNDK Price Prediction), and Axios rounded the headline to roughly 3,700%.
SNDK begins production of its 332-layer BiCS10 3D flash, aiming to boost bit density, speed and efficiency as AI-driven storage demand grows.
Sandisk stock price has suffered a harsh reversal recently as the recent bull run hits a wall. SNDK dropped by 14% on Friday, reaching its lowest level since June 11.
SanDisk Corporation (SNDK) shares plunged 14% in afternoon trading on Thursday, hitting a session low of $1707.58 as investors rotated out of artificial intelligence chip and memory hardware stocks and shifted capital into AI software companies. The decline followed an extraordinary first half of 2026, during which SanDisk shares surged roughly 858%, leaving the stock vulnerable to profit-taking as market sentiment shifted.
Not many stocks in the market can boast the kind of 10-day stretch SanDisk Corporation NASDAQ: SNDK has had. Between June 22 and June 24, shares of the memory and storage giant dropped a full 20% from an intraday high to an intraday low, only to snap back with a 24% single-session pop the very next day.
Sandisk's revenue growth is supported by AI-driven memory shortages, expected to persist until at least 2027, and expansion of its Flash Venture with Kioxia. The Kioxia joint venture secures NAND supply, shares R&D/capex, and plans to double wafer capacity by FY2029, enhancing Sandisk's supply chain resilience. Upcoming 332-layer 10th Gen NAND and high bandwidth flash products are set to improve Sandisk's competitiveness amid shifting industry dynamics.
As investors get more discerning in separating potential artificial-intelligence winners from losers, memory stocks have become a standout trade.
SanDisk shares SNDK rose 4.9% in early trading on Tuesday after Bernstein raised its price target on the stock, citing durability in its future business model. The move comes as investors continue to assess the strength of the ongoing memory supercycle, driven by surging demand for components used in artificial intelligence data centers.
Sandisk Corporation is rated a Buy with 15-20% upside, driven by a structural shift beyond cyclical NAND margins. SNDK's entry into High Bandwidth Flash positions it as a critical AI memory supplier, potentially earning a premium component multiple. Post-spinoff independence enables disciplined supply management, supporting higher normalized margins and reducing downside risk for SNDK from historical cycles.