SanDisk’s Record-Breaking Performance in 2026
SanDisk has captured Wall Street’s attention with a staggering 88% stock gain in 2026. On Tuesday, January 29th, SanDisk shares surged by 9.5% to an all-time high of $446.42, following a Citi analyst upgrade to a $490 price target. With a year-over-year earnings growth expectation of 170%, technology investors are keeping a close eye on this leading memory and storage provider.
How AI Infrastructure is Driving Memory Demand
The rise of artificial intelligence (AI) technology is creating unprecedented demand for flash storage, and SanDisk is perfectly positioned to capitalize on this trend. Nvidia’s Rubin chip platform, which requires higher volumes of flash storage, has fueled additional growth in the market. AI model inferencing, the process of applying trained AI models to data, is expected to generate continued demand for advanced memory solutions through 2027.
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Citi Analysts See Strong Upside Potential
Citi analyst Asiya Merchant raised SanDisk’s price target from $280 to $490, citing robust demand from hyperscale data centers. Wall Street expects SanDisk’s Q2 earnings to skyrocket to $3.32 per share, compared to $1.23 per share in the same period last year. Revenue forecasts are equally impressive, with analysts projecting $2.63 billion in sales.
Merchant noted that SanDisk’s supply strategy remains consistent despite market volatility. The company is managing short-term profitability while positioning itself for sustained long-term growth. This balance has been critical in impressing investors and analysts alike as the company navigates a tight supply and high-demand environment.
Wall Street’s Ratings and Outlook
SanDisk has surged over 1,100% since its February 2025 spin-off from Western Digital. While currently trading above the average consensus target price of $357.53, analysts continue to assign the stock a Moderate Buy rating. Citi foresees enhanced profitability through margin expansion due to its favorable supply-demand balance. However, they also suggest exploring hard disk drive makers like Western Digital and Seagate Technology for diversified investment opportunities.
Final Thoughts
SanDisk’s stellar performance is a testament to the growing importance of AI-driven technologies and their impact on the memory and storage industry. As demand for AI-powered systems intensifies, SanDisk’s ability to serve hyperscale data centers and advanced computing needs makes it a stock to watch in 2026 and beyond.
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