Sandisk Shares Hit Record High as AI Data-Center Demand Fuels Strong Results
Sandisk supplies NAND flash memory and enterprise solid-state drives. Surging volumes of data used in AI training and inference are driving data centers to purchase high-capacity storage, tightening supply and lifting prices. The demand wave has boosted earnings and is also seen on Wall Street as a key gauge of whether the memory upcycle can continue.
Sandisk reported fiscal third-quarter results on April 30, 2026, with revenue rising 97% year on year to $5.95 billion, beating the $4.7 billion market estimate. Adjusted earnings per share came in at $23.41, above the $14.54 forecast. Fox Advisors raised its price target to $1,500 on May 4, while Bernstein said the stock could reach $1,700. The shares gained 5.8% to close at $1,255.86, bringing their four-day rise to 25% and setting a record high.
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The history behind this eventSanDisk Shares Soar More Than 41-Fold on AI Demand, Market Value Tops $200 Billion
The expansion of generative AI data centers has boosted demand for high-bandwidth memory and enterprise storage equipment, putting SanDisk's flash-memory business in the spotlight. Investors are betting on tighter supply and demand conditions and higher prices, viewing the rally as part of an AI-driven memory supercycle. Micron, Samsung Electronics and SK hynix have also benefited.
As of July 2026, SanDisk shares had risen more than 41-fold in one year, with some calculations putting the gain at about 3,600%. Its market capitalization had surpassed $200 billion. Despite the sharp rally, analysts cited in related coverage said the stock was not yet overvalued, reflecting expectations that continued AI infrastructure investment would support demand for memory and storage equipment.
Sandisk Joins Nasdaq-100 as AI Infrastructure Demand Fuels Share Surge
Sandisk specializes in flash memory and data storage, with the expansion of AI servers and data centers driving demand for high-capacity storage. Its inclusion in the Nasdaq-100 will require passive funds tracking the index to add the stock, potentially increasing capital inflows and market visibility and drawing investor attention.
Sandisk is set to join the Nasdaq-100, while Evercore’s bullish outlook on its AI storage business has helped drive the shares up about 300% this year, quadrupling their value since the start of the year. Analysts expect the demand to persist beyond 2028, continuing to support revenue and gross margins. The report did not disclose the effective date or any transaction value.
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