SanDisk stock (NASDAQ: SNDK) surged about 11% on Thursday, extending a blistering 2026 run that has turned the flash‑memory maker into a poster child for “AI infrastructure” momentum.
The share price closed at $599.34 on Thursday, and was trading around $653.82 at press time.
SanDisk’s stock rally is being powered by a simple idea that AI needs vast, fast storage, and NAND flash pricing is tightening again.
SanDisk stock: What’s driving today’s rally
Thursday’s pop did not come out of nowhere.
SanDisk stock has been volatile but sharply higher in recent weeks, with several big up and down sessions that point to fast‑moving positioning rather than a slow, fundamentals-only grind.
Just the day before, the stock fell 7.16% to $541.64, then reversed higher in a 10.65% jump.
The bigger driver is the memory cycle that’s now being recast as an “AI supply chain” story.
NAND flash (the storage memory used in SSDs) is a key component for data centers running AI workloads, because those systems need to move and store huge data sets quickly.
Reuters reported in late January that SanDisk surged after projecting third‑quarter profit and revenue well above estimates, citing a “notable rise in demand for data storage driven by AI applications.”
There’s also a structural angle to the name itself.
SanDisk became an independent public company after Western Digital completed a spin‑off of its flash business in February 2025, with SanDisk stock beginning to trade on Nasdaq under the symbol SNDK.
That separation has made SanDisk a cleaner, more direct way for investors to express a view on flash pricing and AI‑linked storage demand.
Read More: SanDisk stock: how high could it realistically fly in 2026?
Bullish calls dominate
Analyst enthusiasm has helped keep the bid under the stock during pullbacks.
Bernstein analyst Mark Newman lifted his price target on SanDisk to $1,000 from $580, pointing to improved pricing power as AI‑driven demand rises.
That sort of target hike matters because it can reset the “anchor” investors use when thinking about valuation.
When a stock is already sprinting higher, fresh price targets can function as a permission slip for funds that worry they have missed the move.
Still, the rally comes with obvious risks.
SanDisk’s recent tape shows sharp air pockets alongside sudden upside bursts, a reminder that crowded trades can unwind quickly if memory pricing softens.
And even bulls concede that when a stock is moving 7% down one day and 11% up the next, it doesn’t take much, a cautious note on supply, a slower order trend from hyperscalers, or a broader tech selloff to knock momentum off course.
For now, the path of least resistance remains higher.
As long as AI data‑center buildouts keep pulling forward storage demand, investors appear willing to treat SanDisk stock less like a cyclical hardware name and more like a scarce “picks and shovels” play on the AI boom.
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