Citi Raises Sandisk Price Target to $875 Following Micron's Strong Results
Written by Emily J. Thompson, Senior Investment Analyst
Updated: Mar 19 2026
0mins
Source: seekingalpha
- Strong Market Demand: Citi analyst Asiya Merchant highlighted that Micron's earnings report indicates continued strength in the storage market, with NAND revenues exceeding expectations and a projected 20% growth in industry NAND bit demand for 2026, particularly driven by AI applications in data centers.
- New Factory Construction: Micron's decision to break ground on a new NAND fab in Singapore, alongside co-locating R&D with high-volume manufacturing, aims to accelerate time to market for products, although initial wafer output is not expected until the second half of 2028, reflecting confidence in future market conditions.
- Price Target Increase: Citi raised Sandisk's price target from $750 to $875 while reiterating a Buy rating, indicating optimism about the company's performance in a growing storage market and the favorable supply-demand dynamics.
- Stock Price Volatility: Despite the positive outlook from analysts, Sandisk's shares fell 5.4% in premarket trading, illustrating market sensitivity to short-term fluctuations as investors may be taking profits after recent gains.
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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: 1641.640
Low
220.00
Averages
283.69
High
410.00
Current: 1641.640
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.
Sandisk's Market Cap Soars Past $240 Billion
- Stock Surge: Sandisk has seen its stock price rise approximately 4,200% over the past year, with its market cap surpassing $240 billion, indicating a strong growth potential that could lead to a $1 trillion valuation within the next five years.
- Significant Revenue Growth: In Q3 of fiscal 2026, Sandisk's revenue increased by 97% sequentially to $5.95 billion, far exceeding the $1.7 billion from the previous year, highlighting the company's substantial benefits from the AI wave and optimistic future growth outlook.
- Profit Margin Improvement: The company's net profit margin exceeded 60% in the most recent quarter, a significant increase from 26.6% in the prior quarter and just 4.9% in the quarter before that, demonstrating a strong improvement in profitability.
- Strong Market Demand: With the proliferation of AI technology, Nvidia anticipates over $1 trillion in data center revenue for 2026 and 2027, driving demand for memory chips; Sandisk has already sold out its NAND flash drives for 2026, indicating robust market demand for the coming years.
See More
Memory Chip Market Sees New Trends
- Price Target Increases: Susquehanna analyst raised Micron's price target from $600 to $1,750 and SanDisk's from $2,000 to $3,250, both setting new Wall Street highs, reflecting strong market expectations for memory demand.
- Surge in AI Demand: The explosive demand for high-bandwidth memory and storage from AI systems has led Micron, SK Hynix, and Samsung to dominate the DRAM market, resulting in tight supply expected to last through 2027, thereby supporting elevated profit margins.
- Price Increase Trends: According to analyst channel checks, second-quarter average selling prices for DRAM are projected to rise by 50% to 60% from the previous quarter, while NAND prices may increase by 75% to 100%, directly driving profit growth for these companies.
- Optimistic Market Outlook: Market research firm TrendForce forecasts memory revenue to surge by 134% to $552 billion in 2026, followed by a 53% increase to $843 billion in 2027, indicating that strong market demand and constrained supply will continue to drive price increases.
See More
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- Stock Performance Comparison: Micron (MU) has seen its stock rise by 860% over the past year, while Sandisk (SNDK) has skyrocketed by 4,160%, meaning a $10,000 investment in Sandisk a year ago would now be worth about $425,000, showcasing Sandisk's superior return on investment.
- Memory Chip Shortage: Both Micron and Sandisk manufacture memory chips, and the current surge in demand for DRAM and NAND memory has led to significant supply constraints for both companies, with this shortage expected to persist and further drive stock prices upward.
- Future Market Expectations: Micron anticipates that the high-bandwidth memory market will grow from $35 billion in 2025 to $100 billion by 2028, indicating strong market demand and potential growth opportunities, which could exacerbate future memory shortages.
- Reasonable Valuation: Despite the substantial stock price increases, both companies maintain reasonable price-to-earnings ratios, and their future earnings projections appear inexpensive, suggesting they are not in bubble territory, allowing investors to focus on their long-term growth potential.
See More
Sandisk and Micron Stocks Surge Dramatically
- Sandisk Stock Performance: Sandisk's stock has surged an astonishing 4,160% over the past year, meaning a $10,000 investment a year ago is now worth about $425,000, highlighting its strong demand and growth potential in the NAND storage market.
- Micron Growth Metrics: Micron's stock has risen 860% during the same period, and while this growth is relatively smaller, its 196% year-over-year growth rate still reflects robust demand in the DRAM and NAND markets, indicating significant potential in the high-bandwidth memory sector.
- Supply-Demand Tension: Both companies are experiencing a shortage of memory chips, with Micron indicating it can only meet 50% to 66% of medium-term demand, which is likely to drive prices up and could lead to further shortages in the future.
- Valuation Concerns Alleviated: Despite the substantial stock increases, both companies trade at reasonable forward price-to-earnings ratios, alleviating bubble concerns, and with ongoing data center build-outs, the growth outlook for the next few years remains optimistic.
See More
Sandisk Posts Strong Growth, Market Cap Surpasses $240 Billion
- Revenue Surge: Sandisk's revenue increased by 97% sequentially in Q3 of fiscal 2026, reaching $5.95 billion, significantly surpassing the $1.7 billion from the previous year, indicating robust demand and rapid growth potential in the memory market.
- Strong Market Demand: Sandisk has sold out all NAND flash products for 2026 and is generating strong pre-orders for 2027 production, demonstrating its substantial benefits from the AI wave and expected continued growth in the coming years.
- Profit Margin Surge: The company's net profit margin exceeded 60% in the most recent quarter, a significant increase from 26.6% in the previous quarter and just 4.9% earlier, showcasing improvements in cost control and pricing power.
- Optimistic Industry Outlook: Melius Research forecasts that memory demand will remain strong throughout this decade, and with Nvidia's expectations for data center revenue, Sandisk is well-positioned to achieve a $1 trillion market cap within five years.
See More
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- Price Target Increase: Mizuho analyst Vijay Rakesh raised SanDisk's price target from $1,625 to $1,825, implying approximately 12% upside from the stock price at the time, reflecting a positive outlook on the company's future earnings power.
- Revenue and EPS Forecasts: Rakesh increased SanDisk's FY2027 revenue estimate to $45.3 billion from $42.3 billion, surpassing Wall Street's consensus of $43.6 billion, indicating strong growth potential over the next two years.
- NAND Market Outlook: Mizuho expects NAND tightness to persist into 2027, with non-AI customers undersupplied by 30% to 50%, suggesting robust structural demand that could drive long-term growth for SanDisk.
- Emerging Growth Drivers: Rakesh highlighted
See More
Sandisk's Market Cap Soars Past $240 Billion
- Stock Surge: Sandisk has seen its stock price rise approximately 4,200% over the past year, with its market cap surpassing $240 billion, indicating a strong growth potential that could lead to a $1 trillion valuation within the next five years.
- Significant Revenue Growth: In Q3 of fiscal 2026, Sandisk's revenue increased by 97% sequentially to $5.95 billion, far exceeding the $1.7 billion from the previous year, highlighting the company's substantial benefits from the AI wave and optimistic future growth outlook.
- Profit Margin Improvement: The company's net profit margin exceeded 60% in the most recent quarter, a significant increase from 26.6% in the prior quarter and just 4.9% in the quarter before that, demonstrating a strong improvement in profitability.
- Strong Market Demand: With the proliferation of AI technology, Nvidia anticipates over $1 trillion in data center revenue for 2026 and 2027, driving demand for memory chips; Sandisk has already sold out its NAND flash drives for 2026, indicating robust market demand for the coming years.
See More
Memory Chip Market Sees New Trends
- Price Target Increases: Susquehanna analyst raised Micron's price target from $600 to $1,750 and SanDisk's from $2,000 to $3,250, both setting new Wall Street highs, reflecting strong market expectations for memory demand.
- Surge in AI Demand: The explosive demand for high-bandwidth memory and storage from AI systems has led Micron, SK Hynix, and Samsung to dominate the DRAM market, resulting in tight supply expected to last through 2027, thereby supporting elevated profit margins.
- Price Increase Trends: According to analyst channel checks, second-quarter average selling prices for DRAM are projected to rise by 50% to 60% from the previous quarter, while NAND prices may increase by 75% to 100%, directly driving profit growth for these companies.
- Optimistic Market Outlook: Market research firm TrendForce forecasts memory revenue to surge by 134% to $552 billion in 2026, followed by a 53% increase to $843 billion in 2027, indicating that strong market demand and constrained supply will continue to drive price increases.
See More
Micron and Sandisk Stocks Surge Dramatically
- Stock Performance Comparison: Micron (MU) has seen its stock rise by 860% over the past year, while Sandisk (SNDK) has skyrocketed by 4,160%, meaning a $10,000 investment in Sandisk a year ago would now be worth about $425,000, showcasing Sandisk's superior return on investment.
- Memory Chip Shortage: Both Micron and Sandisk manufacture memory chips, and the current surge in demand for DRAM and NAND memory has led to significant supply constraints for both companies, with this shortage expected to persist and further drive stock prices upward.
- Future Market Expectations: Micron anticipates that the high-bandwidth memory market will grow from $35 billion in 2025 to $100 billion by 2028, indicating strong market demand and potential growth opportunities, which could exacerbate future memory shortages.
- Reasonable Valuation: Despite the substantial stock price increases, both companies maintain reasonable price-to-earnings ratios, and their future earnings projections appear inexpensive, suggesting they are not in bubble territory, allowing investors to focus on their long-term growth potential.
See More
Sandisk and Micron Stocks Surge Dramatically
- Sandisk Stock Performance: Sandisk's stock has surged an astonishing 4,160% over the past year, meaning a $10,000 investment a year ago is now worth about $425,000, highlighting its strong demand and growth potential in the NAND storage market.
- Micron Growth Metrics: Micron's stock has risen 860% during the same period, and while this growth is relatively smaller, its 196% year-over-year growth rate still reflects robust demand in the DRAM and NAND markets, indicating significant potential in the high-bandwidth memory sector.
- Supply-Demand Tension: Both companies are experiencing a shortage of memory chips, with Micron indicating it can only meet 50% to 66% of medium-term demand, which is likely to drive prices up and could lead to further shortages in the future.
- Valuation Concerns Alleviated: Despite the substantial stock increases, both companies trade at reasonable forward price-to-earnings ratios, alleviating bubble concerns, and with ongoing data center build-outs, the growth outlook for the next few years remains optimistic.
See More
Sandisk Posts Strong Growth, Market Cap Surpasses $240 Billion
- Revenue Surge: Sandisk's revenue increased by 97% sequentially in Q3 of fiscal 2026, reaching $5.95 billion, significantly surpassing the $1.7 billion from the previous year, indicating robust demand and rapid growth potential in the memory market.
- Strong Market Demand: Sandisk has sold out all NAND flash products for 2026 and is generating strong pre-orders for 2027 production, demonstrating its substantial benefits from the AI wave and expected continued growth in the coming years.
- Profit Margin Surge: The company's net profit margin exceeded 60% in the most recent quarter, a significant increase from 26.6% in the previous quarter and just 4.9% earlier, showcasing improvements in cost control and pricing power.
- Optimistic Industry Outlook: Melius Research forecasts that memory demand will remain strong throughout this decade, and with Nvidia's expectations for data center revenue, Sandisk is well-positioned to achieve a $1 trillion market cap within five years.
See More
Mizuho Raises SanDisk Price Target to $1,825 Amid Strong Earnings Revisions
- Price Target Increase: Mizuho analyst Vijay Rakesh raised SanDisk's price target from $1,625 to $1,825, implying approximately 12% upside from the stock price at the time, reflecting a positive outlook on the company's future earnings power.
- Revenue and EPS Forecasts: Rakesh increased SanDisk's FY2027 revenue estimate to $45.3 billion from $42.3 billion, surpassing Wall Street's consensus of $43.6 billion, indicating strong growth potential over the next two years.
- NAND Market Outlook: Mizuho expects NAND tightness to persist into 2027, with non-AI customers undersupplied by 30% to 50%, suggesting robust structural demand that could drive long-term growth for SanDisk.
- Emerging Growth Drivers: Rakesh highlighted
See More
