New York, June 15, 2026, 08:01 (ET)
- SanDisk shares traded close to $1,980 in recent action, gaining roughly 5% while the AI memory trade held up.
- Sandisk posted revenue of $5.95 billion for the quarter, up 251% from the same period last year. Gross margin reached 78.4%.
- Bulls are citing AI data-center demand and long-term contracts. Skeptics say NAND is still cyclical.
SanDisk shares climbed near $2,000 on Monday as the stock kept up its run as one of this year’s big AI-linked movers. The stock was last seen at $1,980.10, up about 5%, putting SanDisk’s market cap over $310 billion, latest data show. A post on the Moomoo community pegged $2,000 as the current “call wall,” and said SNDK is trading alongside other memory players thanks to the DRAM, NAND and HBM cycle. Moomoo
SanDisk shares drew another burst of investor interest after a June 14 Yahoo Finance article from The Motley Fool questioned if the stock is still worth buying after its nearly 600% rally in 2026. The article said strong demand for memory hardware is still backing the company, but suggested those holding the shares could look at taking profits. Investors just coming in might find better options.
SanDisk’s fiscal third-quarter revenue jumped to $5.95 billion, up 97% from the previous quarter and 251% over last year. GAAP gross margin reached 78.4%. Data-center sales climbed 233% sequentially to $1.47 billion, as higher pricing and demand from AI infrastructure customers lifted results. CEO David Goeckeler called it a “fundamental inflection point” as SanDisk moves to higher-value markets and signs more multiyear customer deals. Sandisk
SanDisk’s long-term supply contracts are key to the bull argument. After earnings, Reuters said SanDisk had locked in five supply deals, three of them in Q3, totaling $42 billion. The terms aim to cut risk from sharp swings in memory prices. SanDisk also unveiled a $6 billion buyback and forecast fiscal Q4 revenue between $7.75 billion and $8.25 billion, coming in ahead of what the Street was looking for.
SanDisk is facing more questions about its valuation. Esxeleryn Analytics at Seeking Alpha stuck to its Sell/Exit call, saying SanDisk is being priced more like a software name than a hardware supplier. The bearish view centers on the 78.4% gross margin, big spot-market bets and worries that NAND prices could fall if supply rises.
SanDisk is back in a spot it knows, but with more on the line this time. Earnings momentum is in place, AI storage demand is strong, and the stock has baked in high expectations. The market is still paying up for scarce memory chips. The question now is whether SanDisk’s updated contract model can hold margins steady when the next NAND cycle shifts.
