Top analyst drops eye-popping new price target on SanDisk stock | Official Website of Louis Velazquez, entrepreneur, finance guy and tech innovator

SanDisk (SNDK) stock just got one of the most aggressive votes of confidence on Wall Street.

Bernstein SocGen Group analyst Mark C. Newman just dropped a jaw-dropping new price target of $1,000 on the memory chip players’ stock while keeping an outperform rating.

The new target represents a 72.4% increase from the prior $580 target and roughly 50% upside from the current price of $665.

For perspective, that’s the highest price target on the Street, with consensus average price targets pointing to modest upside following SanDisk stock’s meteoric run.

Memory stocks have been on a killer run lately, with companies including Micron (MU), SK Hynix, and Samsung seeing both fundamentals and share prices surge.

Much of that incredible momentum comes from a steep supply-demand imbalance in memory, as AI hyperscalers continue to drive outsized demand. However, after a remarkable run, many of these AI memory players are trading at nosebleed valuations.

For instance, Micron stock currently trades at almost 11.6-times trailing-12-month sales. On the flip side, some areas of the memory space look far less stretched, with names like SanDisk trading at just 3.2 times sales.

Timing matters, especially with the market hunting for a fresh narrative after a recent pullback in precious metals. SanDisk delivered exactly that.

Bernstein analyst Mark Newman raised SanDisk’s price target to $1,000 after the company’s blowout quarter.

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SanDisk’s quarter puts the NAND rebound on full display

SanDisk just posted bombastic quarterly numbers across both lines, compelling analysts to effectively rethink the entire earnings arc.

To start, SanDisk reported sales of $3.03 billion, up 61% year over year and 31% sequentially.

Profitability jumped alongside it.

GAAP net income came in at an eye-catching $803 million, or $5.15 per share, while non-GAAP EPS skyrocketed to $6.20, up from just $1.23 a year earlier.

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On top of that, non-GAAP gross margins surged to 51.1%, a 21.2-point sequential jump and 18.6 points year over year, underscoring healthy operating leverage stemming from robust pricing, mix, and utilization.

SanDisk’s quarter by the numbers

Revenue: $3.03 billion (+61% year over year, +31% quarter over quarter)
Non-GAAP EPS: $6.20 vs. $3.33 consensus
Gross margin: 51.1%, sharply higher quarter over quarter and year over year
Datacenter revenue: $440 million (+64% quarter over quarter, +76% year over year)

Those results were driven by a healthier product mix and growing enterprise SSD deployments. On top of that, datacenter demand stood out, with AI infrastructure customers scaling storage alongside compute.

CEO David Goeckeler perfectly summed up the shift with a signal to investors.

Newman hailed the quarter as being a “significant beat and guide to usher in the Year of the Fire-Horse,” backed by a “very strong pricing environment” in raising his price target. In doing so, he also bumped FY2026 EPS estimates to $38.92 and FY2027 to $90.96, an eye-popping 188% above consensus.

As we look ahead, SanDisk guided for Q3 sales to fall in the $4.40 to $4.80 billion range, with non-GAAP EPS of $12 to $14, along with gross margins at nearly 65% to 67%. For perspective on how large those margins are, Micron’s gross margin sits at roughly 45%.

Why this memory rally looks different for SanDisk

SanDisk is operating in a unique and powerful corner of the memory space.

Following its separation from Western Digital, SanDisk became a pure-play NAND flash and storage company.

Unlike other memory chip giants, SanDisk isn’t entirely dependent on the capital-heavy HBM arms race.

Though the AI boom is a big part of its business, SanDisk also manufactures NAND-based products (client and enterprise SSDs, embedded flash, and removable storage), an area where pricing collapsed in 2023-2024 but is now rebounding sharply.

For perspective, back in Q1 2023, TrendForce forecast that NAND average selling prices would drop nearly 15% quarter over quarter, pushing the industry’s revenue down 16.1% quarter over quarter.

By late 2024, the downcycle was still in play, with NAND contract prices down 3% to 8% in Q4, according to TrendForce. However, the tide began to turn in mid-to-late 2025, when TrendForce reported contract prices rising 5% to 10% (Q3) and again 5% to 10% (Q4).

The exclamation point came more recently, when TrendForce upgraded its Q1 2026 outlook to more than 55% to 60% quarter-over-quarter contract-price gains.

SanDisk is the cleanest way to play the NAND rebound

That’s exactly why SanDisk is the cleanest way to ride the classic memory-cycle snapback. With NAND prices turning, we’ve seen a remarkable rebound in the company’s top- and bottom-line results.

SanDisk stands out right now for a variety of reasons.

Pure NAND exposure: It sidesteps DRAM or HBM distractions as pricing recovery flows straight to its already impressive fundementals.
Lower execution risk: There’s no need for SanDisk to defend HBM share or justify gigantic AI capex continuously.
Reset expectations: The stock has been priced for pain, not perfection, leading to under-owned NAND recovery names drawing a ton of interest.