Sandisk Jumps 635% on AI Data Center Demand, Trades Under 14x Earnings
SNDK•In H1 2026, Sandisk stock surged 635% to lead S&P 500 gains as data center revenue grew over 100% on AI-driven memory demand. Despite a 20% pullback from highs, shares trade below 14x earnings versus 21.7x multiple, supported by NAND and HBM supply tightness and capacity delays until 2027.
1. H1 Stock Performance and AI-Driven Revenue Growth
In the first half of 2026, Sandisk shares posted a staggering 635% gain to lead the S&P 500 as data center revenue more than doubled. This outperformance is driven by accelerated AI adoption, which has spurred memory and storage demand for inference workloads and agentic operations at hyperscale facilities.
2. Valuation Metrics and Supply Constraints
Despite a recent 20% pullback from all-time highs, the stock trades below 14x forward earnings compared with a 21.7x S&P 500 multiple. Ongoing tightness in NAND and high-bandwidth memory supply, coupled with new production facility delays through 2027, underpins a robust pricing environment and supports further upside potential.
