SanDisk and Western Digital Receive AI-Driven Price Target Upgrades Amid Tight Chip Supply

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2026-04-28 15:01:01

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Cantor Fitzgerald analyst C.J. Muse raised price targets for SanDisk (SNDK) and Western Digital (WDC), citing robust AI demand and constrained memory chip supply. SanDisk's target jumps to $1,400 from $1,000, while Western Digital climbs to $500 from $420, both retaining Overweight ratings.

Tight supply conditions are driving price increases across hyperscale, consumer, and client markets, fueling earnings growth. SanDisk may soon announce long-term supply agreements akin to DRAM market deals, enhancing pricing visibility and revenue stability.

Despite Strong Buy consensus ratings, current average targets imply limited near-term upside—SanDisk's $1,008 target suggests 5% downside, while Western Digital's $364 projection indicates 10% downside potential.

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