SanDisk expanded its stock buyback program by $14 billion. The move brings its total authorization to $15.5 billion.
The announcement follows a period of extraordinary growth. SanDisk’s stock price surged more than 1,600% over the past year, largely on strong demand for NAND flash storage used in AI data centers. Fiscal 2026 revenue rose 175%. It reached $20.248 billion.
Some analysts have urged caution despite the gains. Bernstein maintained a Buy rating and a $3,000 price target, citing long-term agreements that provide revenue stability. Other reports say two-thirds of recent revenue growth came from price increases rather than higher volume, raising the possibility that the cycle is nearing a peak.
The stock has recently pulled back. Declining consumer revenue has also raised questions about whether SanDisk can sustain its high valuation.