Key Highlights
- Shares of SanDisk (SNDK) advanced 5.2% Thursday, closing at $821.68
- Bernstein’s Mark Newman established a Wall Street-leading $1,250 price objective, increased from $1,000
- The analyst presented an optimistic scenario projecting shares could reach $3,000
- Cantor Fitzgerald upgraded its price objective to $1,000 from $800, keeping an Overweight stance
- Over the trailing twelve months, SNDK has skyrocketed 2,567%, dramatically outperforming the S&P 500’s 29% advance
Shares of SanDisk advanced 5.2% during Thursday’s trading session, reaching $821.68, extending an extraordinary rally that has dwarfed broader market performance. The momentum followed Bernstein analyst Mark Newman’s decision to establish a new price objective of $1,250 — representing Wall Street’s most aggressive forecast — elevated from his previous $1,000 target.
This revised forecast suggests approximately 60% appreciation potential from Wednesday’s settlement price of $780.90. Newman maintains an Outperform recommendation on the shares.
The analyst’s bullish stance centers on a singular thesis: memory chip demand dynamics. Newman believes the market is failing to properly account for SanDisk’s earnings potential and the extended duration of the current favorable 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, Newman sketched out an even more aggressive “blue-sky” projection placing shares at $3,000. This elevated forecast incorporates an expanded valuation multiple alongside optimistic earnings assumptions.
Bernstein’s updated model anticipates SanDisk will deliver $144 per share in earnings for fiscal year 2027 under its base scenario, while the bullish case forecasts $224 per share.
Multiple Firms Boost Price Objectives
Cantor Fitzgerald’s C.J. Muse similarly increased his valuation Thursday, establishing a $1,000 target from his previous $800 forecast while maintaining an Overweight recommendation.
Muse highlighted persistent demand strength and 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 trends represent a critical catalyst behind both analyst upgrades. Memory prices have climbed more aggressively than anticipated, prompting Wall Street to reconsider the durability and longevity of this expansion cycle.
Previous UBS research indicated that DDR memory pricing surged an average of 95% during Q1 compared to the preceding quarter, while NAND flash pricing jumped 80%.
Dismissing TurboQuant Concerns
Memory semiconductor stocks experienced volatility last month following Alphabet‘s unveiling of its TurboQuant compression technology. Google researchers claimed the innovation reduced key value memory requirements in artificial intelligence models by a factor of six or more, triggering investor anxiety.
Newman characterized the market’s reaction as excessive, describing concerns as “overdone.” He referenced Jevons paradox — an economic principle suggesting that improved efficiency and reduced costs typically drive higher aggregate consumption rather than decreased demand.
SanDisk shares have exploded 2,567% during the past year. By comparison, Micron Technology (MU) has gained 473% over the identical timeframe. The S&P 500 has advanced 29%.
Wall Street consensus currently classifies SNDK as a Moderate Buy, based on 11 Buy recommendations and 3 Hold ratings published during the past three months. The mean price target of $771.54 trades marginally below present levels.
Market participants will focus intently on SanDisk’s fiscal third quarter 2026 financial results scheduled for April 30, which should provide critical insights into pricing momentum and demand trajectories.
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