Sandisk’s stock has seen a massive 1,400% increase since its spin-off from Western Digital, making it a hot commodity. The company’s revenue from edge devices like PCs and smartphones has risen by 63% year-over-year, reaching nearly $1.7 billion. Demand for Sandisk’s storage solutions in data centers is also growing, with a 76% increase in revenue reported. Analysts project a doubling of revenue for Sandisk in the current fiscal year, with further growth expected in the next year. The company’s earnings per share are forecasted to increase by 1,220% this year, leading to a potential stock price surge of over 4x in the next three years.

The memory market’s supply constraints are driving NAND flash memory prices up by 55% to 60%, with a projected 3x increase in demand by 2028. Sandisk’s earnings could almost double next fiscal year, with a potential for a 25% increase by 2028, reaching over $95 per share. Multiplying projected earnings by the Nasdaq-100 index’s forward earnings multiple of 25 suggests a stock price of $2,375, over 4x the current value. With the potential for massive growth in the flash storage market, Sandisk has the opportunity to become a multibagger stock over the next three years, trading at just 15 times forward earnings.

Investors should weigh the potential of Sandisk against other stock options, as it may not be included in the top 10 stocks identified by The Motley Fool Stock Advisor team. The team’s top 10 picks have historically produced significant returns, outperforming the S&P 500 by 693%. By joining the Stock Advisor community, investors can access the latest recommendations and insights for successful investing.

Read more at Nasdaq: Where Will Sandisk Stock Be in 3 Years?