TLDR
- SanDisk stock jumped 27.5% on Tuesday to nearly $350, reaching a new all-time high after Nvidia CEO Jensen Huang discussed AI storage needs at CES 2026
- Memory sector rallied with Western Digital up 16.8%, Micron gaining 10%, and Seagate rising 14%
- NAND flash memory prices expected to climb 30% to 35% in Q1 2026, according to Morgan Stanley
- SNDK stock has surged over 1,080% since April 2025 low and gained 40% year-to-date in just three trading days
- Analysts maintain Strong Buy rating with 11 Buy recommendations and three Holds
SanDisk stock hit an all-time high on Tuesday, surging 27.5% to nearly $350. The gains continued in after-hours trading with an additional 2% increase.
The rally followed comments from Nvidia CEO Jensen Huang at CES 2026. Huang called the data storage market “completely unserved” and predicted it would become the world’s largest storage market.
“This is a market that never existed, and this market will likely be the largest storage market in the world, basically holding the working memory of the world’s AIs,” Huang said.
His remarks sparked gains across the entire memory sector. Western Digital climbed 16.8%, Micron rose 10%, and Seagate gained 14%.
NAND Flash Memory Prices Rising
Morgan Stanley forecasts NAND flash memory prices will jump 30% to 35% in the first quarter of 2026. This matters because NAND flash forms the core of SanDisk’s product lineup.
Korea Economic Daily reported this week that Samsung Electronics and SK Hynix are pushing for 60% to 70% server DRAM price increases in Q1 versus Q4 2024. Tight supply and growing AI demand are driving the price surge.
Bloomberg Intelligence analyst Jake Silverman said Huang’s comments suggest “demand for NAND storage will remain robust across Nvidia systems.”
AI Fueling Storage Demand
Bank of America analysts called SanDisk a “key beneficiary” of AI inferencing and edge computing growth in 2026. Organizations need more storage for training, analytics, and compliance.
Wamsi Mohan from Bank of America expects storage demand to skyrocket as drones, surveillance systems, vehicles, and sports technology adopt AI capabilities. He wrote that AI inference will dominate hardware spending in 2026 and beyond.
Stock Performance
SanDisk spun off from Western Digital in February 2025. Since then, the stock has delivered massive returns.
SNDK surged over 500% in 2025, ranking among the S&P 500’s top performers. The momentum accelerated in 2026 with shares up more than 40% year-to-date after three trading sessions.
The stock has gained 1,080% since its April 22, 2025 low. Tuesday marked the best single-day performance since February 2025.
Wall Street maintains a Strong Buy consensus on SNDK stock. Eleven analysts rate it Buy while three have Hold ratings. The average price target sits at $259.83, about 26% below current trading levels.
