SanDisk (NASDAQ:SNDK) is a prominent memory chip maker benefiting from strong demand in artificial intelligence. The company and its peers, Western Digital and Seagate, are seeing increased enterprise spending on data storage products for AI data centers, as highlighted by Reuters.
Analyst firm Susquehanna raised its price target for SNDK to $2,000.00 from $1,000.00 on May 1, 2026. With the stock trading at $1,096.51, this new target represents a potential upside of approximately 82.4% for investors.
This optimism is supported by a strong financial quarter. As highlighted by Zacks, SNDK reported earnings of $23.41 per share, easily beating estimates of $14.50. This is a significant turnaround from a loss of $0.30 per share a year ago.
The company’s revenues grew substantially to $5.95 billion for the quarter, up from $1.70 billion in the same period last year. This performance beat consensus estimates by over 28%. SNDK has now surpassed revenue and earnings estimates for four consecutive quarters.
To manage the industry's price cycles, SNDK has secured long-term contracts worth at least $42.00 billion. The company also unveiled a large buyback program, where it will purchase its own shares to help increase their value.
