Sandisk (SNDK) has kicked off 2026 with an impressive rally, climbing nearly 50% in just the first few weeks of the year. The surge is driven by growing demand for AI‑optimized memory and tight supply conditions in the storage market. Looking ahead, SNDK investors should watch upcoming earnings, AI-driven memory demand, and NAND supply trends closely. While near-term gains may be limited, Bernstein remain bullish on long-term growth potential, naming it a top pick for 2026.
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Bernstein Remains Bullish on SNDK Stock
Today, Bernstein’s four-star-rated analyst Mark Newman raised his price target on SNDK stock to $580 from $300 while maintaining a Buy rating on the shares. The new price target implies an upside of almost 50% from the current level.
Newman boosted his estimates, citing unprecedented NAND shortages and rising prices. Overall, he believes Sandisk offers the most short-term upside among memory stocks and has named SNDK a top pick for 2026.
Sandisk Eyes Solid Quarter Ahead
Sandisk is scheduled to report its Q2 FY26 earnings on January 29, with expectations running high as momentum builds around the stock. The company’s results appear on track for a strong showing. On Wall Street, analysts expect earnings of $3.31 per share, up sharply from $1.23 a year ago. Meanwhile, SNDK’s revenue is forecast at $2.63 billion, compared with $2.31 billion in the previous quarter, reflecting continued strength in demand.
Additionally, Sandisk expects PC shipments to grow by a low-single-digit percentage this year, while storage capacity per PC is projected to rise by mid-single-digits. That outlook could improve further as AI-capable PCs require significantly higher storage.
Is Sandisk a Buy or Sell?
Wall Street analysts maintain a Strong Buy rating on SNDK stock, with 11 Buy ratings and three Holds over the past three months. However, after the recent rally, the stock is now trading over Sandisk’s average price target of $305.23, which implies roughly 22% downside from current levels.
