[SanDisk has already surged to $1,800, and institutions are still calling for $2,400?]
Rosenblatt gave SanDisk a $2,400 target ($SNDKB ). Based on the September 25 close of $1,777.8, there’s still about 35% upside on paper. The issue is that the market has already played this “AI storage” card; SanDisk is up more than sixfold this year. On September 22 alone, it surged on heavy volume (+6.8%), then pulled back for two straight days, suggesting the money isn’t simply chasing the research note all the way.
But there is definitely something to the story. In fiscal year 2026, SanDisk’s revenue is projected to jump 175% to $20.25 billion, and its data center business is expected to grow 437%. The company has also signed multiple multi-year supply agreements, with demand visibility far stronger than in traditional NAND cycles.
What I care about more is that what the market is pricing right now isn’t “SanDisk selling storage,” but rather the AI-era NAND transforming from a cyclical commodity into core infrastructure. For the $2,400 target to really hold, we need to see whether the high prices can be sustained and whether these long-term contracts can be fulfilled. The stock has already run up by more than six hundred percentage points; the story looks beautiful—now it has to keep being supported by earnings.
Rosenblatt gave SanDisk a $2,400 target ($SNDKB ). Based on the September 25 close of $1,777.8, there’s still about 35% upside on paper. The issue is that the market has already played this “AI storage” card; SanDisk is up more than sixfold this year. On September 22 alone, it surged on heavy volume (+6.8%), then pulled back for two straight days, suggesting the money isn’t simply chasing the research note all the way.
But there is definitely something to the story. In fiscal year 2026, SanDisk’s revenue is projected to jump 175% to $20.25 billion, and its data center business is expected to grow 437%. The company has also signed multiple multi-year supply agreements, with demand visibility far stronger than in traditional NAND cycles.
What I care about more is that what the market is pricing right now isn’t “SanDisk selling storage,” but rather the AI-era NAND transforming from a cyclical commodity into core infrastructure. For the $2,400 target to really hold, we need to see whether the high prices can be sustained and whether these long-term contracts can be fulfilled. The stock has already run up by more than six hundred percentage points; the story looks beautiful—now it has to keep being supported by earnings.