Bernstein Raises Sandisk Price Target Amid NAND Shortages
Written by Emily J. Thompson, Senior Investment Analyst
Updated: Jan 14 2026
0mins
Should l Buy SNDK?
Source: seekingalpha
Sandisk Corp (SNDK) stock is up 4.43% in pre-market trading, reaching a 52-week high.
Bernstein has raised Sandisk's price target from $300 to $580, primarily due to unprecedented NAND shortages and rising demand for storage solutions. Analyst Mark Newman highlighted that the new storage platform will significantly increase the demand for NAND, with expectations for earnings per share to reach $3.79 for Q2 FY2026, well above the consensus estimate of $3.31. This reflects strong market expectations for Sandisk's profitability and competitiveness in the NAND market.
The increase in price target and optimistic earnings forecast indicate that Sandisk is well-positioned to capitalize on the growing demand for storage solutions, particularly in light of the ongoing NAND shortages.
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Analyst Views on SNDK
Wall Street analysts forecast SNDK stock price to fall
14 Analyst Rating
11 Buy
3 Hold
0 Sell
Strong Buy
Current: 1383.290
Low
220.00
Averages
283.69
High
410.00
Current: 1383.290
Low
220.00
Averages
283.69
High
410.00
About SNDK
SanDisk Corporation is a developer, manufacturer and provider of data storage devices and solutions based on NAND flash technology and has consumer brands and franchises globally. The Company's solutions include a range of solid state drives (SSDs) embedded products, removable cards, universal serial bus (USB) drives, and wafers and components. Its broad portfolio of technology and products addresses multiple end markets of Datacenter, Edge and Consumer. Its Datacenter end market is composed primarily of products for public or private cloud environments and enterprise customers. The Company, through the Edge end market, provides original equipment manufacturer and channel customers a broad array of high-performance flash solutions across personal computer, mobile, gaming, automotive, virtual reality headsets, at-home entertainment, and industrial spaces. The Company serves the Consumer end market with a broad range of retail and other end-user products.
About the author
Emily J. Thompson
Emily J. Thompson, a Chartered Financial Analyst (CFA) with 12 years in investment research, graduated with honors from the Wharton School. Specializing in industrial and technology stocks, she provides in-depth analysis for Intellectia’s earnings and market brief reports.
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- Significant Revenue Growth: Sandisk's third-quarter revenue surged 251% year-over-year to $5.95 billion, primarily driven by demand from data centers and edge computing, showcasing the company's strong performance in the rapidly growing AI market.
- Soaring Gross Margin: The company's gross margin skyrocketed from 22.7% in Q3 2025 to 78.4%, surpassing industry leader Nvidia's 75%, indicating Sandisk's success in enhancing profitability and boosting investor confidence.
- Dramatic EPS Improvement: Sandisk's earnings per share skyrocketed from a loss of $0.30 to a gain of $23.41, reflecting a significant enhancement in the company's profitability under high demand conditions, prompting investors to reassess its intrinsic value.
- Optimistic Market Outlook: Despite Sandisk's forward P/E ratio of 24 being lower than the S&P 500's 22, investors should remain cautious due to the cyclical risks in the memory hardware industry, as the next five years may face the risk of a demand bubble.
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- Bond Yield Decline: The 10-year Treasury note yield fell by 2 basis points to 4.65%, as inflation expectations weakened due to a more than 2% drop in WTI crude oil prices, providing support for the bond market and potentially influencing future interest rate decisions.
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- Micron Stock Surge: Micron Technology's shares rose by 4.8%, as investors viewed it as a potential beneficiary of the Samsung supply disruption, with elevated retail activity on Stocktwits indicating bullish sentiment towards the stock.
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- ETF Unit Trading Mechanism: ETFs trade similarly to stocks, where investors buy and sell 'units' that can be created or destroyed based on demand, impacting liquidity and market performance.
- Inflows and Outflows Monitoring: Weekly monitoring of changes in ETF shares outstanding highlights significant inflows (new units created) or outflows (old units destroyed), which can affect the underlying stocks held within the ETF and overall market performance.
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- Uber Stake Expansion: Tepper purchased 4,482,720 shares of Uber in Q1, representing a 242% increase, and while most investors do not link Uber to the AI revolution, its platform relies on AI for route optimization and dynamic pricing, positioning it for sustained double-digit annual sales growth and reinforcing its dominance in the U.S. ride-sharing market.
- New Position in Sandisk: Tepper added 281,250 shares of Sandisk, making it a top-12 holding for Appaloosa, as Sandisk's stock price skyrockets due to surging demand for AI data center infrastructure, with 2027 EPS estimates projected to leap from under $10 to over $171, indicating strong market potential.
- Optimistic Market Outlook: With the rapid advancement of AI technology, the diversified business models of Amazon and Uber are expected to benefit in future economic cycles, particularly in advertising and subscription services, which are anticipated to further enhance their market share and profitability.
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- Strong Market Performance: Although Nvidia is no longer the top-performing AI stock, its market cap remains at $5.34 trillion, significantly outperforming the S&P 500, indicating sustained competitiveness and investor confidence in the company.
- Optimistic Q1 Expectations: Analysts project Nvidia's Q1 revenue to grow by 79.6% to $79.1 billion, with adjusted earnings per share doubling from $0.81 to $1.77, reflecting robust demand for its chips and strong market sentiment.
- Future Growth Potential: Despite limited short-term stock price movements, Nvidia's forward P/E ratio of 27 suggests strong growth potential, with expectations of reaching a $6 trillion market cap in the future, further boosting investor optimism.
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