Is this memory stock Nvidia of 2026?

Though no established technology company managed to match the success of the semiconductor giant Nvidia (NASDAQ: NVDA) and hold the gains upon facing scrutiny, one memory stock appears to be an especially strong candidate for 2026.

Specifically, the recently resurrected memory giant SanDisk (NASDAQ: SNDK) executed a stellar, 1,500% rise since its initial public offering (IPO) approximately one year ago and has again gained strong momentum in the latest session.

During the regular hours on February 11, SNDK shares rose 10.65%, and the gains have grown by a further 6.51% by February 12 pre-market. Indeed, SanDisk stock is, at press time, changing hands at $638.51.

Interestingly, SNKD stock’s latest rally appears primarily driven by a different company, as well as by sector-wide developments with wide-ranging ripple effects.

Why SanDisk stock is surging today

To begin with, an industry-wide rally was initiated by Micron’s (NASDAQ: MU) announcement regarding early shipments of HBM4 chips – a move that triggered substantial rallies and drove MU stock itself nearly 10% higher in the regular and 4% in the extended sessions.

Elsewhere, 2026 appears to be the year of an extreme memory shortage – occasionally referred to as the ‘RAMaggedon’ – driven equally by artificial intelligence (AI) companies’ desire to hoard memory, and the suppliers’ willingness to oblige.

Among investors, the development has, evidently, been welcomed as it is all but guaranteed to lead to significantly higher prices across all types of computer memory and thus, for higher revenue and profits for manufacturers.

The news – especially if the alleged Nvidia decision to pull back in the consumer market due to the shortage – has not been as welcomed outside the space of institutional clients and investors.

Despite the controversy, the facts on the ground in 2026 strongly indicate that the major flash memory producer SanDisk will likely see exponential growth during the ongoing year.

Can SanDisk stock sustain the rally through 2026?

Elsewhere, the current computer memory landscape poses certain risks for SanDisk. Specifically, overexposure to AI that has become a big tech-wide symptom means that a disproportionately large part of the economy and the stock market now risks on the contentious industry.

Though executives’ promises and enthusiasts’ hopes certainly point toward the massive AI investments being more than worth it, the fact remains that actual results have, thus far, been underwhelming compared to the costs and expectations.

Part of this uncertainty, but also the overall bias toward optimism, is evident in the overall Wall Street attitude toward SanDisk stock. SNDK shares are, on average, rated as ‘Moderate Buy’ on the stock analysis platform TipRanks, per the data Finbold retrieved on February 12.

Still, it is noteworthy that the score might be in for a reassessment as the memory maker’s rapid rise means that, despite the bullish recommendations, the overall price target actually forecasts a retracement from the press time price of $638.34 to $637.33.

Featured image via Shutterstock