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SanDisk NAND flash memory module for AI data center storage
Photo: InvestingCube

SanDisk Stock Jumps 6% as Rosenblatt Starts Coverage at Buy

Yahoo Finance2 min read7 sources

Why is SanDisk stock up today?

SanDisk (SNDK) stock jumped 6% on Tuesday to $1,887 after Rosenblatt Securities initiated coverage at Buy with a $2,400 target, arguing AI is repositioning NAND flash as critical infrastructure.

Key numbers

SNDK Close Sep 22$1,887+6% on the day
Rosenblatt Price Target$2,400+27% implied upside from Sep 22 close
FY2028 Production Locked In~65%via 8 major customer agreements (per [1])
FY2026 Full-Year Revenue$20.25B+175% vs. prior year
FQ1 FY2027 Revenue Guidance$10.3–10.8Bmidpoint up ~18% from Q4 FY2026 (per [4])
Rosenblatt FY2030 EPS Estimate~$300/sharenon-GAAP (per [3])

What happened

SanDisk (SNDK) stock jumped 6% on Tuesday to $1,887 after Rosenblatt Securities initiated coverage at Buy with a $2,400 target, arguing AI is repositioning NAND flash as critical infrastructure. Analyst Kevin Cassidy said AI computing platforms now demand storage density, performance, and supply certainty, lifting NAND beyond its old commodity role. Rosenblatt noted deals with eight major customers covering roughly 65% of SanDisk's fiscal 2028 production — unusual pricing visibility for a sector historically defined by boom-bust cycles. Memory rival Micron (MU) also gained 3% on the read-through. SanDisk entered the week up about 677% year-to-date, driven by fiscal 2026 revenue of $20.25 billion, up 175% versus a year earlier.

Why it matters

SanDisk is one of just a few companies that make NAND flash memory — the chips that store data in solid-state drives and AI servers — and Rosenblatt argues the market rules for those chips have changed permanently. AI workloads running at massive scale need storage that is fast, dense, and reliably sourced, commanding higher prices than the old commodity model allowed. The customer agreements with eight major buyers suggest the biggest tech companies already agree, pointing to less price volatility and more stable profit margins ahead.

Who this affects

Marketbullish
Medium impact
Memory sector broadly lifts as AI reshapes chip pricing.
Companybullish
High impact
SNDK shareholders gain analyst validation with a 27% upside target.
Competitorsbullish
Low impact
Micron and Seagate rise on Rosenblatt sector read-through.
Industrybullish
Medium impact
NAND flash re-rated from commodity storage to AI-critical infrastructure.

SanDisk vs Micron, Seagate

SanDiskSNDK$276B+6%+677%25.6x+175%
MicronMU$1.24T+3%+266%24.7x+167%
SeagateSTX$209B+1%+209%66.2x+34%

As of 2026-09-22

How we got here

  1. SanDisk begins Nasdaq trading after Western Digital spin-off

  2. Q4 FY2026: $8.97B revenue, EPS $43.97, up 51% sequentially

  3. Rosenblatt initiates at Buy, $2,400 target; SNDK +6%, MU +3%

What to watch

  • Micron Q4 FY2026 earnings Sep 30 will test AI memory demand thesis2026-09-30
  • SanDisk FQ1 FY2027 revenue guided $10.3–10.8B; execution key for stockQ4 2026
  • Watch for further analyst initiations as NAND-as-infrastructure thesis spreadsQ4 2026

Educational content only. Not investment advice.

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