SanDisk (SNDK) separated from Western Digital (WDC) in February to unlock value in its flash memory business. Since then, the stock has surged around 1,100%, driven by demand for NAND flash due to AI and data centers. Price targets have been raised, with Citi increasing theirs to $490, sparking a 10.6% jump in shares.

SanDisk is a leader in NAND flash memory storage solutions for consumer electronics, data centers, and enterprise applications. The stock has surged 105% in 2026, outperforming the S&P 500. Despite premium pricing metrics like a forward P/E of 35.64, SNDK appears somewhat undervalued considering its growth potential.

The global memory chip shortage continues, driving NAND prices up over 50% in 2025. SanDisk benefits from vertical integration, reducing reliance on suppliers and enabling faster innovation. The company’s expertise in high-bandwidth memory solutions shields against price volatility, positioning it well for future growth in enterprise SSDs.

SanDisk focuses on R&D for high-capacity, energy-efficient chips to expand market share. Analysts expect strong growth in enterprise SSDs, with prices forecast to increase by 40% in Q1 2026. Despite challenges like leverage and negative ROE, SanDisk’s strategic focus and market positioning suggest continued momentum.

Analysts rate SNDK stock a consensus “Moderate Buy,” with a mean price target of $359.06. Recent bullish shifts in ratings reflect optimism tempered by valuation concerns. While the mean target implies a potential downside of 28%, some outliers suggest 16% potential gains if growth exceeds expectations.

Read more at Yahoo Finance: SanDisk Stock Keeps Surging. Did You Miss Your Chance to Buy?