TLDR
- SanDisk’s stock rose 27.5% on Tuesday, hitting a fresh all-time high of around $350 following comments from Nvidia CEO Jensen Huang at CES 2026 that emphasized the vital demand for data storage in AI systems
- The entire memory sector saw a rally, with Western Digital shares up 16.8%, Micron rising 10%, and Seagate adding 14%
- Morgan Stanley forecasts NAND flash memory prices will increase between 30% and 35% in the first quarter of 2026
- SanDisk has skyrocketed more than 1,080% since its April 2025 low and is up over 40% in the first three trading days of 2026
- Wall Street analysts maintain a Strong Buy rating for the stock, with 11 Buy recommendations and three Hold ratings
SanDisk’s stock soared to an all-time high on Tuesday, reaching almost $350 after a 27.5% one-day jump. The flash memory and storage firm continued its upward trend in after-hours trading, picking up an additional 2% or more.
The rally was sparked by comments from Nvidia CEO Jensen Huang during his CES 2026 appearance on Monday. Huang characterized the data storage market as “completely unserved” and predicted it might 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 told analysts at the conference.
These remarks set off a sector-wide rally among data storage stocks. Western Digital’s shares rose 16.8%, while Micron climbed 10%. Seagate Technology Holdings added close to 14%.
SanDisk develops and produces flash memory and storage solutions for consumer electronics, data centers, and enterprise applications. The company became an independent entity in February 2025 when Western Digital spun off its flash storage division.
Memory Prices Set to Jump
The rally builds upon the existing positive momentum in the memory sector. Morgan Stanley anticipates NAND flash memory prices will rise between 30% and 35% in the first quarter of 2026.
NAND flash acts as a critical component for long-term data storage and forms the backbone of SanDisk’s product lineup.
Earlier this week, the Korea Economic Daily reported that Samsung Electronics and SK Hynix are seeking price increases of 60% to 70% for server DRAM in Q1 2026 compared to Q4 2024. The constrained supply and booming demand stem from AI training and inferencing needs.
Bloomberg Intelligence analyst Jake Silverman observed that Huang’s CES remarks “suggest that demand for NAND storage will remain robust across Nvidia systems.” He highlighted tight supply and a spike in memory pricing as key factors lifting digital storage stocks.
Banking on AI Infrastructure
Analysts at Bank of America, led by Wamsi Mohan, have named SanDisk and other memory firms as “key beneficiaries” of the 2026 push for AI inferencing and edge computing. The bank predicts organizations will retain more data for training, analytics, and compliance purposes.
Storage demand is “skyrocketing in lockstep” with its expanding use in drones, surveillance, vehicles, and sports technology, Mohan wrote in a January 4 note. He expects AI inference to lead the hardware spending cycle in 2026 and beyond.
The stock has generated outstanding returns since its public listing. SanDisk rose more than 500% in 2025, making it one of the top performers in the S&P 500 index.
Wall Street’s View
The stock’s momentum shows no signs of slowing down in 2026. SanDisk shares are already up over 40% year-to-date after just three trading days.
The stock has surged more than 1,080% since hitting a low on April 22, 2025. Tuesday marked its strongest single-day performance since February 2025.
Wall Street analysts continue to give SNDK stock a Strong Buy rating. Based on assessments from the past three months, 11 analysts recommend Buy, while three have Hold ratings.
The recent rally has taken SanDisk’s share price above its average analyst target of $259.83. While the current trading level suggests roughly a 26% drop from these targets, the stock keeps exceeding market expectations.
