New York, June 11, 2026, 17:45 EDT
- Sandisk finished up 14.50% at $1,881.51 after hitting $1,895.00, which is the stock’s 52-week high on the exchange.
- Semiconductor stocks bounced hard, with the PHLX Semiconductor Index rising 7.9% for its biggest gain since April 9, 2025.
- Sandisk shares rallied after the company topped earnings in April and put out guidance for fourth-quarter revenue between $7.75 billion and $8.25 billion.
SNDK jumped Thursday as Sandisk Corporation rallied with AI memory stocks. Shares popped 14.50% to finish at $1,881.51, having opened at $1,672.26 and touched $1,895.00 in the session. Volume was 13.46 million, per Google Finance, which showed SNDK ticking up after hours to $1,882.78.
Chip stocks bounced hard. After a recent drop, investors rotated back into AI hardware names. Barron’s said Micron Technology rose 12%, Sandisk added 15%, and Western Digital was up 8%. The Wall Street Journal pointed out the PHLX Semiconductor Index gained 7.9% for its best one-day move since April 9, 2025.
Sandisk stock is still moving with the data-center storage rally. For its fiscal third quarter, Sandisk posted $5.95 billion in revenue, up 97% from the last quarter and up 251% versus a year ago. GAAP net income hit $3.615 billion. The company reported non-GAAP diluted EPS of $23.41. Datacenter revenue jumped 233% from the previous quarter to $1.467 billion.
Chief Executive David Goeckeler said this was a “fundamental inflection point” for Sandisk, and told analysts the company is now targeting higher-value end markets plus “multi-year customer engagements backed by firm financial commitments.” Sandisk ended the fiscal third quarter with three signed New Business Model deals. It said it signed two more in the fiscal fourth quarter. Securities and Exchange Commission
Wall Street has tracked the rally too. Benzinga said Thursday that Bank of America’s Wamsi Mohan kept a Buy on Sandisk and moved his target up to $2,100 from $1,550. He pointed to memory pricing and contracted supply. Mohan called the deals a “win-win as they lock in committed supply for customers,” Benzinga said. Benzinga
SNDK analysts are still divided on how fast things are moving. Google Finance’s analyst roundup put 14 Buys and 2 Holds out of 16 tracked over the past three months. The top 12-month target is $3,250, with an average of $1,843.44. That’s just under where shares finished Thursday.
Sandisk is set for a spot in the Nasdaq-100 Index after Nasdaq announced in April it would replace Atlassian before the open on April 20. Nasdaq said the index covers 100 of the biggest Nasdaq-listed non-financial names, with more than 200 investment products tracking it and over $600 billion in global assets under management.
Now the question is whether Sandisk will hit its tough forecast. The company told investors to expect fiscal fourth-quarter revenue between $7.75 billion and $8.25 billion, and put its non-GAAP diluted EPS target at $30 to $33. Sandisk is also calling for a non-GAAP gross margin of 79% to 81%. Investors are watching NAND pricing and data-center demand, with an eye on whether long-term supply deals can offset the cycles that keep haunting memory stocks.
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