Sandisk (SNDK) Stock Surges 7% Amid NAND Market Optimism

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2026-04-28 06:16:02

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Sandisk shares rallied sharply after multiple analyst upgrades, fueled by projections of a prolonged NAND supply crunch and unprecedented pricing power. The stock hit $1,063 intraday—a 7% gain—following bullish initiations from Melius Research ($1,350 target) and target hikes from Cantor Fitzgerald ($1,400) and Morgan Stanley ($1,100).

NAND flash memory prices are projected to spike 70-90% sequentially by early 2026, with supply constraints potentially lasting through 2028. Morgan Stanley sees gross margins approaching 80% as AI data centers drive structural demand. The semiconductor firm closed at record highs near $990 last week before extending gains.

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