Sandisk CorporationNasdaq: SNDK
Information Technology · Technology Hardware, Storage & Peripherals
$1,182.72
+7.86%
Vol: 48.4M
Research Digest
Friday, May 1, 2026
SanDisk Q3 2026 revenue surges 252% with datacenter up 233%; stock falls 6% post-earnings on profit-taking
SanDisk reported fiscal Q3 2026 revenue of $5.95B (up 97% sequentially, 252% above year-ago), with $23.03 diluted EPS and 78.4% gross margin. Datacenter revenue jumped 233%. Company signed five-year customer agreements covering >33% of FY2027 bit supply with $42B revenue obligations. Despite strong beat, stock fell 6% in premarket as investors sold the news. Cantor Fitzgerald raised price target to $1,800 from $1,400. Average analyst target $1,325 implies 20.84% upside.
Previous Market Intelligence
13 daysApr 30SanDisk Reports Q3 Fiscal 2026 Earnings Today; Stock +348% YTD on AI Data Center Memory DemandPositive▶
SanDisk announces Q3 FY2026 earnings today (April 30) with consensus expecting $4.69B revenue (+175% YoY) and $14.45 EPS (vs $0.30 loss prior year). Stock surged 348% YTD to $1,097-1,113 range amid strong NAND memory demand from AI servers; market cap exceeded $157B. Wedbush raised PT to $1,200 (from $740); Cantor raised to $1,400. Analyst consensus "Strong Buy" (12 Buy, 3 Hold) with PT $1,008 (+0.56% upside). Options market pricing 21% move post-earnings. Valuation debate: Wells Fargo Equal Weight at $975 cites premium multiples, though fundamentals support rally. AI storage tailwinds continue through decade per Melius Research.
Apr 29SanDisk surges 8.97% on April 29; reports Q3 earnings tomorrow with 288% YTD surgePositive▶
SanDisk (SNDK) stock surged 8.97% on April 29 ahead of Q3 FY2026 earnings announcement on April 30. Flash memory demand remains strong driven by AI infrastructure. Wall Street expects Q3 revenue of $4.69B (up 175% YoY) and EPS of $14.45 vs loss of $0.30 prior year. Data center business grew 64% sequentially with contract prices rising 10-75% this quarter. Analyst consensus: Strong Buy (12 Buy, 3 Hold) with $1,008 target (0.56% upside). Recent upgrades include $1,350 (Melius), $1,400 (Cantor), $1,100 (Morgan Stanley).
Apr 16SanDisk surges 152% year-to-date on AI datacenter demand; set to join Nasdaq-100 on April 20, 2026Positive▶
SanDisk experienced explosive growth with stock up 2,739% in 12 months and 246% in 2026, driven by AI-driven earnings inflection and booming datacenter revenues. Nasdaq announced SanDisk will join the Nasdaq-100 Index before market open on April 20, replacing Atlassian. Q1 revenue jumped 21% sequentially to $2.31 billion with non-GAAP gross margins reaching record 65.2%, driven by aggressive pricing and the high-margin BiCS8 architecture rollout. Amit Daryanani initiated coverage with Outperform rating and $1,200 price target.
Apr 14SanDisk joins Nasdaq-100 April 20; analyst PTs surge to $1,000+ on AI NAND demandPositive▶
Joining Nasdaq-100 April 20, triggering 11.83% surge. Datacenter revenue up 76% YoY. Evercore $1,200 PT, Jefferies $1,000 PT. Q3 earnings April 30. Up 275% YTD.
Apr 13SanDisk rockets to Nasdaq-100 inclusion April 20; Bernstein raises PT to $1,250 amid AI data center NAND surgePositive▶
SanDisk joining Nasdaq-100 Index April 20 (replacing Atlassian), expected to trigger $600B+ in institutional flows. Stock surged 259% YTD to $856.20 on AI-driven NAND demand. Q2 FY2026 revenue $3.03B (+61% YoY); data-center revenue $440M (+76% YoY). Q3 FY2026 earnings April 30. $1B private investment in Nanya Technology (3.9% stake).
Apr 10SanDisk surges to all-time high on analyst upgrade and strong AI memory chip demand.Positive▶
SanDisk surged to all-time high of $855 on April 9 (+9.05%). Bernstein raised price target by 25% to $1,250 from $1,000 citing strong data center demand. Morgan Stanley added SNDK as top pick projecting 61% revenue growth. Stock jumped 11% amid Meta's $21B AI infrastructure deal. Q3 FY2026 earnings April 30.
Apr 9SanDisk Surges on AI Memory Tailwinds; NAND Prices Up 10%, Kioxia Partnership ExtendedNeutral▶
SanDisk stock gained 3-5% on AI memory supply squeeze dynamics. Company raising NAND prices 10%+ effective April 1, 2026. Extended Kioxia joint venture through 2034. NAND/SSD shipments projected up 23% YoY to 135.4B units in 2026; ASP expected to climb 77% to $0.11/bit, driving 113% revenue growth to $15.7B. Stock soared 1,610% since February 2025 spinoff from WDC.
Apr 8SanDisk announces 10% NAND pricing increase as AI memory demand surges through 2026Positive▶
SanDisk announced plans to lift NAND product pricing by more than 10% starting April 1, driven by soaring demand from cloud hyperscalers and AI workloads. Q2 revenue reached $3.03 billion, up 31% sequentially and above guidance, with net income of $803 million ($5.15 diluted EPS). The stock is up 162% YTD and 1,258% over the past 12 months, making it the top S&P 500 performer in Q1. Mizuho maintains buy ratings on memory sector despite peak memory concerns. Analyst consensus is "Strong Buy" with price targets as high as $1,000, indicating 37% upside from current levels.
Apr 7SanDisk gains 3% on AI memory ETF launch; YTD return of 154.90%; analyst price targets reach $1,000Positive▶
SanDisk shares rose Monday on the launch of the Roundhill Memory ETF highlighting memory chips as key constraint for AI. Since separating from Western Digital in February 2025, SNDK has climbed from under $50 to $697.99, a 1,350% gain. Year-to-date performance stands at 154.90% with 33% monthly gain. Company expects Q3 2026 revenue of $4.4-4.8B and EPS of $12-14, above expectations, driven by accelerating enterprise SSD deployments and hyperscale data center demand. Mizuho recommends buying SNDK following recent pullback. Consensus rating is Strong Buy with price targets as high as $1,000.
Apr 6SanDisk surges 196% YTD on AI infrastructure demand with $1 billion memory investment and 256TB AI SSD launchPositive▶
SanDisk stock surging with 196% year-to-date gain driven by explosive AI infrastructure demand. Company announced $1 billion investment in memory partner and launched 256TB AI SSD. Trading at $701.59 as of April 5, 2026. 2025 fiscal year revenue up 10.39% to $7.36B. 14 analysts recommend buy with $770.32 average price target (high $1000, low $600). Next earnings release April 30, 2026. Recent Western Digital spinoff positioned favorably in booming NAND flash memory market.
Apr 3SanDisk soars 9% ahead of Q3 FY2026 earnings (April 30); stock has surged 1,350% since February 2025 spinoff as AI data center memory demand accelerates.Positive▶
SanDisk (SNDK) surged 9.03% on April 2, 2026 closing at $692.73 as investors positioned ahead of Q3 FY2026 earnings release April 30. Company expects revenue of $4.4B-$4.8B (up 159-182% YoY), non-GAAP diluted EPS $12-$14 (vs. -$0.30 loss prior year), and gross margin 64.9%-66.9%. Recently launched 256TB enterprise SSDs for AI workloads and partnered with SK Hynix on High Bandwidth Flash standardization.
Apr 2SanDisk surges 168% YTD on AI-driven demand; stock soars 9% ahead of Q3 earnings April 30.Positive▶
SanDisk stock has surged 168% year-to-date, driven by exceptional demand for NAND flash memory in AI infrastructure. The company is expected to report Q3 fiscal 2026 revenues of $4.4-$4.8 billion (159%-182% growth from $1.7B in year-ago quarter). Gross margins are projected to reach 65%-67% in Q3 2026 (vs. 30.1% in 2025). SanDisk extended joint venture agreements with Kioxia at the Yokkaichi Plant and partnered with SK hynix for High Bandwidth Flash standardization. However, Google's March 2026 TurboQuant algorithm announcement caused a temporary 12% sell-off due to storage reduction concerns. Q3 earnings report set for April 30 after market close. Analyst consensus is Strong Buy with price targets ranging from $320-$1,000 (max 44% upside). Current price: $692.73.
Apr 1SanDisk stock rebounds 11% after recent Google TurboQuant concerns; Morgan Stanley reiterates Buy with $690 price target.Mixed▶
SanDisk reported Q2 2025 revenue of $3.03 billion (up 31% sequentially). The stock experienced volatility following Google's TurboQuant compression algorithm but rebounded. Morgan Stanley maintained Buy with $690 price target, noting structural supply-demand imbalance favors memory manufacturers.
Sector Peers
| Company | Price | Day | 1M | Fwd P/E | Beta | Mkt Cap |
|---|---|---|---|---|---|---|
| AAPLAPPLE | $280.06 | +3.21% | +4.8% | 28.9x | 1.11 | $3.98T |
| SNDKSANDISK | $1,182.72 | +7.86% | +51.3% | 9.3x | — | $161.8B |
| STXSEAGATE | $726.74 | +7.88% | +48.6% | 25.6x | 1.63 | $150.9B |
| WDCWESTERN | $430.70 | -0.88% | +42.9% | 29.7x | 1.83 | $148.6B |
| DELLDELL | $209.77 | +0.39% | +20.6% | 14.2x | 0.95 | $135.9B |
| HPEHEWLETT | $28.50 | -0.96% | +17.1% | 10.6x | 1.22 | $38.2B |
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