SanDisk Stock (SNDK) Extends Rally after Record High — What’s Driving the Surge?

SanDisk (SNDK) stock continues to be one of the standout performers in the 2026 tech rally. After a strong Wednesday session where the stock jumped nearly 10% and touched a record high of $807.99, shares are edging higher again in pre-market trading on Thursday, holding near the $800 level. While peers like Micron (MU) are seeing a pre-market dip, SanDisk remains firm, supported by strong demand for AI-driven storage.

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Wall Street also remains positive on the flash memory and storage company’s outlook. In a new note today, top Bernstein analyst Mark Newman raised his price target on SanDisk to street-high $1,250 from $1,000, citing stronger-than-expected NAND pricing. The analyst said memory prices continue to rise faster than expected, suggesting further upside in earnings and the stock if the trend continues.

Why SanDisk is Defying the Sector Dip

SanDisk has benefited from its focus on enterprise SSDs, which are widely used in AI infrastructure. Management recently confirmed that its products are fully allocated well into 2026, meaning that even if production costs rise due to the helium shortage, the company has the ability to pass those costs on to customers, helping support margins.

Also, Micron’s strength is largely attributed to its strategic $1 billion investment in Nanya Technology, which has helped secure a more stable supply chain in Asia. This reduces exposure to shipping disruptions in the Middle East that are affecting other chipmakers.

In addition to Bernstein, Morgan Stanley recently named SanDisk a “top pick” for the second half of the year, pointing to strong demand trends and the company’s 61% revenue growth. The firm believes this could mark the start of a longer-term growth cycle driven by AI infrastructure demand. 

What Is the Price Target for SanDisk?

Wall Street analysts currently rate SNDK stock a Moderate Buy, with 11 Buys and three Holds issued over the past three months. SanDisk’s average price target of $771.54 implies a modest downside of 1.20% from current levels.