As previously reported, Benchmark initiated coverage of SanDisk (SNDK), which was spun out of Western Digital (WDC) in February, with a Buy rating and $58 price target. SanDisk is a leading manufacturer of flash memory, which is “a highly cyclical business,” and the firm believes a cyclical upturn has begun that it thinks will extend into 2026, the analyst tells investors. Major hyperscale cloud capex is expected to grow 40% year-over-year in 2025 to $330B, while AI opportunities and a Windows end-of-life replacement cycle is seen driving higher PC and mobile related flash sales, notes the analyst, who sees non-GAAP earnings growing to $5.28 per diluted share in FY26.
Confident Investing Starts Here:
- Easily unpack a company's performance with TipRanks' new KPI Data for smart investment decisions
- Receive undervalued, market resilient stocks right to your inbox with TipRanks' Smart Value Newsletter
Published first on TheFly – the ultimate source for real-time, market-moving breaking financial news. Try Now>>
Read More on SNDK:
Looking for a trading platform? Check out TipRanks' Best Online Brokers , and find the ideal broker for your trades.
Report an Issue