December 18, 2025 — Sandisk Corporation stock (NASDAQ: SNDK) rallied sharply on Thursday, extending a powerful 2025 run as investors piled back into memory and storage names. The move came amid a one-two catalyst: Micron’s standout outlook for AI-driven memory demand and a fresh wave of bullish analyst commentary on Sandisk’s positioning as a “pure-play” NAND flash beneficiary of the current pricing cycle. [1]
Key points driving Sandisk stock today
- SNDK surged intraday, after jumping in premarket trading alongside other memory names. [2]
- Micron’s blowout guidance reinforced the “tight supply, strong AI demand” narrative that tends to lift NAND-focused peers like Sandisk. [3]
- Benchmark reiterated a Buy on Sandisk with a $260 price target in a note published this morning, pointing to improving NAND market dynamics. [4]
- Sandisk’s latest reported quarter and forward guidance (from its November SEC filing) showed accelerating revenue and a much stronger earnings outlook for the following quarter. [5]
Sandisk stock price today: where SNDK is trading on Dec. 18, 2025
Sandisk shares climbed aggressively through the session, with strong volume and a wide trading range reflecting how crowded—and volatile—the memory upcycle trade has become.
As of 17:47:30 UTC on Thursday (Dec. 18), Sandisk stock was $217.28, up $10.45 (about +5.05%) on the day. The stock hit an intraday high of $230.40 and a low of $214.51, after opening at $222.44 on volume of about 6.8 million shares.
Earlier in the day, market trackers reported the stock had traded as high as roughly $231 with gains near 7%, following a strong premarket jump. [6]
In premarket, Reuters-reported market action showed Sandisk among the notable movers, rising alongside Micron and Western Digital. [7]
Why Sandisk stock is rising: Micron’s AI-driven outlook lifts the memory complex
The biggest macro catalyst for Sandisk Corporation stock on Dec. 18 wasn’t a Sandisk press release—it was Micron.
Micron’s latest outlook underscored a global memory supply crunch meeting surging AI data-center demand, a setup that typically supports higher pricing across memory categories and boosts sentiment for the whole space. Micron executives also pointed to tight supply conditions extending beyond 2026, adding fuel to the “longer upcycle” thesis. [8]
That matters for Sandisk because the company is positioned as a flash / NAND-centered storage business selling across cloud, client, and consumer markets. When the market believes memory pricing power is strengthening and supply remains constrained, investors often re-rate companies most exposed to the cycle. [9]
A separate Reuters market wrap on Thursday also highlighted that other memory companies including SanDisk rose as part of the broader rebound in tech and semiconductors. [10]
Today’s analyst call: Benchmark reiterates Buy, keeps $260 price target
The most direct Sandisk-specific “today” item for investors is the Benchmark note published on Dec. 18, 2025, reiterating a Buy rating and a $260 price target.
According to the report, Benchmark’s thesis is rooted in improving NAND flash conditions: mid-teen percentage NAND price increases in the most recent quarter (after high-single-digit gains previously) and strong sequential NAND sales growth, with a view that demand is poised to outstrip supply into 2026. [11]
The same analyst roundup also points to a wider Street warming trend:
- Mizuho raised its target to $250
- Jefferies raised its target to $250
- Bernstein SocGen lifted its target sharply to $300 [12]
Meanwhile, services tracking analyst consensus cited an average target price in the low-to-mid $260s, implying meaningful upside from where the stock traded earlier Thursday. [13]
One important nuance: after a run this steep, even bullish notes acknowledge valuation risk. The Dec. 18 coverage flagged that some “fair value” models view the stock as stretched after its enormous 12‑month gains. [14]
Sandisk fundamentals: what the company last reported and what it guided next
While today’s move is largely sector-driven, Sandisk has delivered company-specific numbers that help explain why SNDK is so sensitive to “memory upcycle” headlines.
In its fiscal first quarter 2026 results (announced Nov. 6, 2025 and filed with the SEC), Sandisk reported:
- Revenue: $2.31 billion, up 21% sequentially and 23% year-over-year
- GAAP net income: $112 million (GAAP EPS $0.75)
- Non-GAAP EPS: $1.22
- Datacenter revenue: $269 million, up 26% sequentially [15]
For the next quarter, Sandisk guided to:
- Revenue: $2.55B to $2.65B
- Non-GAAP diluted EPS: $3.00 to $3.40
- Non-GAAP gross margin: 41% to 43% [16]
Guidance at that level helps explain why the stock can move hard on pricing-cycle headlines: the market is treating Sandisk as a leveraged play on improving flash conditions and enterprise demand.
Where Sandisk fits in the AI trade: NAND, enterprise SSDs, and hyperscaler pull
Sandisk has been pitching itself as an innovation-led flash company serving cloud and enterprise needs, while still carrying major consumer storage franchises. [17]
Investors are especially focused on whether AI infrastructure buildouts keep translating into higher enterprise storage demand—and whether that demand arrives in a supply environment tight enough to sustain pricing power. This is where Micron’s “tight into 2026+” messaging becomes relevant: if supply stays constrained, it can reinforce the kind of margin expansion that flash-heavy companies aim to capture. [18]
Forecasts for SNDK: what Wall Street is watching next
With Sandisk stock already swinging widely on a daily basis, forecasts and next catalysts tend to matter more than long-term narratives alone.
1) NAND pricing and demand signals
Analyst notes published today centered on rising NAND prices and expectations of demand exceeding supply as 2026 approaches. Investors will watch spot pricing, contract pricing commentary, and any updated industry forecasts for confirmation. [19]
2) Next earnings checkpoint
Sandisk’s last filed outlook was for the fiscal second quarter (revenue $2.55B–$2.65B; non-GAAP EPS $3.00–$3.40). Hitting—or exceeding—those targets would strengthen the “upcycle execution” case; missing would likely amplify volatility. [20]
3) Analyst target revisions
Today’s Benchmark reiteration wasn’t happening in a vacuum—recent target increases from multiple firms suggest a fast-moving consensus that can still change quickly if memory pricing momentum turns. [21]
Risks for Sandisk stock investors to keep in mind
Even in a strong tape, memory remains one of the market’s most cyclical corners.
- Cycle risk / oversupply risk: When prices rise, capacity expansion often follows—sometimes too much, too fast.
- Demand concentration: AI data centers are powerful, but any slowdown in hyperscaler capex or server builds can ripple through storage suppliers.
- Valuation risk after a huge run: With SNDK up massively over the past year, expectations are high and pullbacks can be sharp on any disappointment. [22]
- Macro sensitivity: Thursday’s rally also benefited from broader risk-on sentiment tied to the inflation backdrop and rate-cut expectations—conditions that can shift quickly. [23]
Bottom line: Sandisk stock is trading like a high-beta bet on the memory upcycle
On Dec. 18, 2025, Sandisk Corporation stock is moving with a clear message from markets: the memory trade is back in focus, and SNDK is one of the most direct ways investors are expressing that view.
The combination of (1) a sector-wide tailwind from Micron’s AI-driven outlook, (2) bullish sell-side commentary and rising targets, and (3) Sandisk’s own upbeat forward guidance explains why the stock remains a frequent leader on strong semiconductor days. [24]
References
1. www.reuters.com, 2. www.tradingview.com, 3. www.reuters.com, 4. www.investing.com, 5. www.sec.gov, 6. www.marketbeat.com, 7. www.tradingview.com, 8. www.reuters.com, 9. www.reuters.com, 10. www.reuters.com, 11. www.investing.com, 12. www.investing.com, 13. www.tradingview.com, 14. www.investing.com, 15. www.sec.gov, 16. www.sec.gov, 17. www.reuters.com, 18. www.reuters.com, 19. www.investing.com, 20. www.sec.gov, 21. www.investing.com, 22. www.investing.com, 23. www.reuters.com, 24. www.reuters.com
