SanDisk (SNDK) Stock: Flash Memory Giant Surges to All-Time High on Nvidia CEO Comments

TLDR

• SanDisk stock jumped 27.5% on Tuesday, reaching a new all-time high near $350 after Nvidia CEO Jensen Huang highlighted the critical need for data storage in AI systems at CES 2026
• The entire memory sector rallied, with Western Digital up 16.8%, Micron climbing 10%, and Seagate gaining 14%
• NAND flash memory prices are projected to rise 30% to 35% in Q1 2026, according to Morgan Stanley
• SanDisk has surged over 1,080% since its April 2025 low and is up more than 40% in the first three trading days of 2026
• Wall Street maintains a Strong Buy rating with 11 Buy ratings and three Holds

SanDisk stock rocketed to an all-time high on Tuesday, climbing to nearly $350 after a 27.5% single-day surge. The flash memory and storage company extended gains in after-hours trading, adding more than 2%.

Sandisk Corporation, SNDK

The rally came after Nvidia CEO Jensen Huang spoke at CES 2026 on Monday. Huang described the data storage market as “completely unserved” and predicted it could become the largest storage market in the world.

The comments triggered a sector-wide rally across data storage stocks. Western Digital shares rose 16.8%, while Micron climbed 10%. Seagate Technology Holdings gained nearly 14%.

SanDisk designs and manufactures flash memory and storage solutions for consumer electronics, data centers, and enterprise applications. The company became independent in February 2025 after Western Digital spun off its flash storage business.

Memory Prices Set to Jump

The rally builds on existing momentum in the memory sector. Morgan Stanley projects NAND flash memory prices will rise 30% to 35% in the first quarter of 2026.

NAND flash serves as a key component for long-term data storage. It forms the core of SanDisk’s product portfolio.

Earlier this week, Korea Economic Daily reported Samsung Electronics and SK Hynix were seeking 60% to 70% price increases for server DRAM in Q1 compared to Q4 2024. The tight supply and surging demand stem from AI training and inferencing needs.

Banking on AI Infrastructure

Bank of America analysts led by Wamsi Mohan identified SanDisk and other memory companies as “key beneficiaries” of the push for AI inferencing and edge computing in 2026. The firm expects organizations to retain more data for training, analytics, and compliance purposes.

Storage demand is “skyrocketing in tandem” with growing use in drones, surveillance, vehicles, and sports technology, Mohan wrote in a January 4 note. He expects AI inference to dominate the hardware spending cycle in 2026 and beyond.

The stock has delivered exceptional returns since going public. SanDisk surged more than 500% in 2025, making it one of the top performers in the S&P 500.

Wall Street’s View

The momentum shows no signs of stopping in 2026. SanDisk shares are already up over 40% year to date after just three trading sessions.

The stock has soared more than 1,080% since hitting a low on April 22, 2025. Tuesday marked its best single-day performance since February 2025.

Wall Street analysts maintain a Strong Buy rating on SNDK stock. Eleven analysts rate it as a Buy, while three have Hold ratings based on assessments from the past three months.

The recent rally has pushed SanDisk above its average price target of $259.83. The current trading level implies roughly 26% downside from analyst targets, though the stock continues to defy expectations.

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