SanDisk’s shares surged 455% this year, leading the S&P—one piece of news sent it down 7% overnight.
First, let’s see how wild it got: From 2026 to now, it’s up 455%, at one point spiking to 653%. It ranks first on the S&P 500 by total return—no contest.
On August 13 Investor Day, management painted a rosy picture: by 2030, revenue would grow 15%-19% annually, gross margin would be kept at 80%, and the free cash flow margin would be 50%.
That day, the stock blasted up 13.7%. Wall Street’s target price was immediately lifted to $3,100, with an average target of $2,218. Eight major customers reportedly locked in long-term orders, covering half of shipment volume for 2027—clearly the new king of AI storage.
Then, a bucket of cold water.
Media reports suggested the U.S. government might allow Apple to source memory chips from Chinese suppliers.
On that unconfirmed rumor alone, SanDisk plunged 7% in a single day, wiping out $17 billion in market value overnight. All the gains built up at Investor Day were completely given back.
Even worse, big-name investors started bailing: David Tepper’s Appaloosa cleared SanDisk in Q2—leaving not a single share.
Analysts have been trading blows too: Some called for $3,100, while others’ models suggest it’s only worth $1,630—double the difference.
And on top of that, China’s ChangXin and CXMT are watching from the sidelines. Morgan Stanley said that by mid-2028, China’s production capacity may reach the tipping point where it affects global pricing.$SNDKB $SNDK
First, let’s see how wild it got: From 2026 to now, it’s up 455%, at one point spiking to 653%. It ranks first on the S&P 500 by total return—no contest.
On August 13 Investor Day, management painted a rosy picture: by 2030, revenue would grow 15%-19% annually, gross margin would be kept at 80%, and the free cash flow margin would be 50%.
That day, the stock blasted up 13.7%. Wall Street’s target price was immediately lifted to $3,100, with an average target of $2,218. Eight major customers reportedly locked in long-term orders, covering half of shipment volume for 2027—clearly the new king of AI storage.
Then, a bucket of cold water.
Media reports suggested the U.S. government might allow Apple to source memory chips from Chinese suppliers.
On that unconfirmed rumor alone, SanDisk plunged 7% in a single day, wiping out $17 billion in market value overnight. All the gains built up at Investor Day were completely given back.
Even worse, big-name investors started bailing: David Tepper’s Appaloosa cleared SanDisk in Q2—leaving not a single share.
Analysts have been trading blows too: Some called for $3,100, while others’ models suggest it’s only worth $1,630—double the difference.
And on top of that, China’s ChangXin and CXMT are watching from the sidelines. Morgan Stanley said that by mid-2028, China’s production capacity may reach the tipping point where it affects global pricing.$SNDKB $SNDK
