SanDisk (SNDK) Stock: Why JPMorgan Says It’s Uniquely Positioned in AI

TLDR

• SanDisk stock rose 6% Friday, adding to a 13% gain from the prior session
• The company outlined annual revenue growth in the mid-to-high teens for 2028-2030, with non-GAAP gross margins near 80%
• Multi-year customer contracts with fixed pricing, backed by three US hyperscalers, gave Wall Street confidence
• JPMorgan assigned an Overweight rating, citing SanDisk’s positioning in AI-driven NAND demand
• RBC raised its price target to $1,600; Goldman Sachs and Mizuho hold targets of $2,200 and $1,900 respectively

SanDisk (SNDK) stock was trading around $1,641 on Friday, up 6% on the day, following a 13% jump in the prior session. The two-day rally came after the company’s investor day laid out long-term targets that got Wall Street’s attention.

Sandisk Corporation, SNDK

The company is projecting annual revenue growth in the mid-to-high teens between 2028 and 2030. Non-GAAP gross margins are expected to come in around 80%.

For a NAND flash memory maker operating in a historically volatile market, those are eye-catching numbers.

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