SanDisk shares surged nearly 500% in 2026, making the company one of the S&P 500’s top performers. Analysts point to soaring NAND memory demand from AI data center construction as a key growth driver. Revenue rose 372% year over year in the fourth quarter of fiscal 2026.
SanDisk is increasingly signing long-term agreements with customers to reduce its exposure to the industry’s historical boom-and-bust cycles. The agreements commit customers to set volumes and defined pricing, giving the company greater revenue predictability and stability. The shift is intended to make SanDisk less vulnerable to supply-and-demand swings.
SanDisk’s stock fell 18% over six days amid concerns about slowing profit growth. However, forward-looking analysis suggests the market may not yet reflect the full potential of 2027 growth. It also describes the valuation as low relative to future earnings potential, with long-term contracts helping to reduce risk.