Rosenblatt initiated coverage of Sandisk with a buy rating and a $2,400 price target, implying 36% upside from Monday's close. The firm points to Sandisk's NAND flash memory becoming a system-critical component of AI infrastructure. Shares have already gained 644% year to date.
Rosenblatt initiated coverage of Sandisk with a buy rating and a $2,400 price target, implying 36% upside from Monday's close. Analyst Kevin Cassidy argues that new AI compute platforms are repositioning NAND flash from a commodity storage medium into a more system-critical component of AI infrastructure. As a result, the firm sees further room for Sandisk shares to climb even after their sharp run higher this year.
Shares up 644% in 2026
Sandisk stock has surged 644% year to date as demand for NAND has reached new heights amid the spread of next-generation AI models. NAND demand has historically moved with pressure to cut costs in smartphones and home computers, according to Rosenblatt. Cassidy wrote that expanding AI model sizes and data-intensive inference now put density, performance, endurance, and supply certainty ahead of the lowest absolute price.
Technology edge in 3D NAND
Cassidy added that Sandisk holds an edge over competitors through its 3D NAND flash memory technology, the BiCS8 and BiCS10 platforms, which pack many bits into a given square millimeter of silicon without requiring much added production space. The firm believes this can support a favorable bit-cost curve and sustain a performance-and-cost advantage in AI-oriented enterprise storage.
Rosenblatt's call falls in line with consensus on Wall Street. Of the 28 analysts covering Sandisk, 24 have a buy or strong buy rating on the stock, according to LSEG data.
Source: US Top News and Analysis
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