NEW YORK, Jan 21, 2026, 16:30 EST — After-hours.
- Shares of Sandisk surged over 10% during Wednesday’s trading and climbed further in after-hours action.
- Citi raised its target again, shining a spotlight on AI-driven storage demand and the pricing of memory chips.
- Next up: Sandisk’s results on Jan. 29, along with any updates on NAND pricing and supply.
Sandisk Corp shares jumped 10.6%, closing at $501.29 on Wednesday. They pushed even higher in after-hours trading, rising 1.2% to $507.40. The flash-memory maker saw its rally pick up steam heading into the end of the week. During regular trading, the stock swung between $448.53 and $501.95, with roughly 19.8 million shares changing hands. 1
This move is significant because Sandisk has become a crowded proxy for a single, narrow bet within the AI hardware surge: that large data centers will continue purchasing more storage and that limited supply will prevent prices from falling. When this trade pays off, it happens quickly.
Citi raised its price target on Sandisk sharply, from $280 to $490, while maintaining a Buy rating. The firm cited strong spending by hyperscale data centers—the largest cloud operators—as a key driver behind growing demand for storage and other data-center components. 2
Citi analysts, led by Asiya Merchant, said Sandisk “sounded the most constructive” following CES meetings earlier this month, focusing on NAND fundamentals. NAND, a type of flash memory used in solid-state drives, is seeing renewed demand. Citi highlighted Sandisk’s optimism tied to data-center growth, including Nvidia’s Vera Rubin AI computing platform, and bumped its 2026 earnings-per-share estimate to $17.78 from $13.96. 3
The momentum carried over to other storage and memory stocks on Wednesday. Western Digital jumped 8.5%, Seagate added 5.6%, and Micron advanced 6.6% during the session.
Sandisk, known for its flash storage and memory products, made its comeback to the public markets last year following its split from Western Digital. The company now trades on Nasdaq under the ticker SNDK. 4
Sandisk will release its fiscal second-quarter results on Jan. 29. The earnings call follows at 1:30 p.m. Pacific time, after U.S. markets close. 5
The stock is now trading above Citi’s newly raised target, putting pressure on traders to see if sell-side analysts will continue pushing the rally — and if the company’s earnings and outlook back up the momentum.
The downside is clear enough. Memory prices can shift fast, and even a hint that supply is easing or cloud spending is cooling could damage a stock currently valued on strong expectations.
The immediate focus is Jan. 29, when results and guidance hit. Investors will be watching closely for updates on NAND pricing, data-center demand, and whether that strength can counterbalance weaker segments like PCs and smartphones.
