Shares of SanDisk have surged 70% in just 11 trading days in 2026 as non-volatile NAND flash memory shortages intensify. AI infrastructure build-outs require high-performance storage, pushing NAND prices higher and directly benefiting SanDisk, one of the largest global NAND producers. Since its February 2025 spinoff from Western Digital, SanDisk stock has climbed over 700%, underscoring the acute supply–demand imbalance in the flash memory market.

Zacks Investment Research forecasts SanDisk’s fiscal 2026 revenue to jump 42% to $10.45 billion from $7.36 billion in the prior year, with fiscal 2027 sales expected to rise another 26% to $13.15 billion. Earnings per share are projected to skyrocket 350% in fiscal 2026 to $13.46 from $2.99, followed by a further 93% gain to $25.94 in fiscal 2027. Over the past 60 days, EPS revisions for both years have climbed over 10%, reflecting sustained strength in enterprise flash demand.

Following company presentations at CES 2026, Citi analysts lifted their 2026 EPS estimate for SanDisk to $17.78 from $13.96 and maintained a Buy rating, citing "solid hyperscaler demand supporting higher pricing". They highlighted upside from data‐center deployments tied to next-generation AI platforms. Despite the rally, SanDisk trades at a reasonable 30X forward earnings multiple, on par with industry peers and the broader storage sector average of 29X, indicating further upside potential.

Since re-listing in February 2025, SanDisk has delivered one of the market’s best 11-month performances, returning approximately 1,050%. An initial $100 investment at the time of the spinoff would be worth nearly $1,150 today. In its most recent quarter (ended October 3), data-center revenue climbed 26% sequentially to $269 million, underscoring SanDisk’s ability to capitalize on the accelerating demand for high-speed flash storage.