Key Highlights
- Shares of SanDisk (SNDK) advanced 5.2% on Thursday, closing at $821.68
- Bernstein’s Mark Newman upgraded his price objective to an industry-leading $1,250 from $1,000
- Newman presented an optimistic scenario projecting shares could reach $3,000
- Cantor Fitzgerald boosted its price objective to $1,000 from $800 with an Overweight stance
- Over the trailing twelve months, SNDK has skyrocketed 2,567%, dwarfing the S&P 500’s 29% advance
Shares of SanDisk jumped 5.2% during Thursday’s trading session, reaching $821.68 and extending a remarkable rally that has vastly outperformed broader market indices. The momentum followed Bernstein analyst Mark Newman’s decision to elevate his price objective to $1,250—representing the most aggressive target among Wall Street firms—from his previous $1,000 forecast.
Newman’s revised target suggests approximately 60% potential upside from the previous session’s close of $780.90. The analyst maintains an Outperform rating on the memory specialist.
The foundation of Newman’s bullish stance centers on memory chip demand dynamics. He believes Wall Street is substantially underestimating both SanDisk’s profit potential and the longevity of the current industry expansion cycle.
“We think the market is significantly undervaluing earnings power and sustainability of this cycle,” Newman stated in his research note.
Beyond his base-case projection, Newman outlined an ambitious “blue-sky” forecast that envisions shares trading at $3,000. This elevated scenario applies an expanded valuation multiple to aggressive earnings projections under optimal conditions.
Bernstein’s updated financial models anticipate SanDisk will deliver $144 in earnings per share for fiscal year 2027 under baseline assumptions, with the bull-case scenario projecting $224 per share.
Wall Street Raises the Bar
Cantor Fitzgerald’s C.J. Muse joined the chorus of optimism Thursday, increasing his price target to $1,000 from $800 while maintaining an Overweight recommendation.
Muse highlighted persistent strong demand alongside a supply-demand mismatch he anticipates will persist through at least mid-2028. “Demand remains robust, and we see the supply/demand imbalance extending into likely mid-CY28 earliest,” the analyst noted.
NAND flash pricing dynamics represent a central catalyst behind these bullish revisions. Memory prices have accelerated beyond analyst expectations, prompting Wall Street to reconsider the sustainability of current industry conditions.
UBS research indicates that DDR memory pricing surged an average of 95% during the first quarter compared to the preceding quarter, while NAND flash pricing climbed 80%.
Dismissing TurboQuant Concerns
Memory-focused equities experienced turbulence last month following Alphabet’s unveiling of its TurboQuant compression technology. The search giant’s researchers claimed the innovation reduces key-value memory requirements in artificial intelligence models by a factor of six or more, sparking investor anxiety.
Newman characterized the market’s negative response as excessive. He referenced Jevons paradox—an economic principle suggesting that enhanced efficiency and reduced costs typically drive increased aggregate consumption rather than decreased demand.
SanDisk has delivered an extraordinary 2,567% return over the past year. By comparison, Micron Technology (MU) has gained 473% during the same timeframe. The broader S&P 500 index has advanced 29%.
The consensus view among Wall Street analysts currently positions SNDK as a Moderate Buy, reflecting 11 Buy recommendations and 3 Hold ratings issued within the past ninety days. The mean price target of $771.54 trades modestly below current price levels.
Market participants will closely monitor SanDisk’s fiscal third-quarter 2026 financial results scheduled for April 30, which should provide critical insights into memory pricing trajectories and demand fundamentals.
