SanDisk Corporation stock (Nasdaq: SNDK) heads into the weekend with momentum—and a growing debate over just how far the rally can go. As of Saturday, December 20, 2025, shares are indicated around $237.61, reflecting the last U.S. session’s move and a sharp gain versus the prior close.
The latest catalyst is not an earnings report from SanDisk itself, but a sector-wide re-rating after peer Micron delivered a bullish outlook tied to AI-driven memory demand—an update that helped lift other memory names, including SanDisk, in the same breath. [1]
Below is a detailed roundup of what’s driving SanDisk stock now, what Wall Street forecasts imply for 2026–2027, and the key risks investors are watching after one of the most explosive “return-to-public-markets” stories of 2025.
SanDisk stock price today: where SNDK stands on Dec. 20, 2025
Because U.S. markets are closed today (Saturday), the most relevant reference point is the most recent trade/close captured in market data feeds.
- SanDisk (SNDK): $237.61
- Change vs. previous close:+$18.09 (+8.24%)
- Recent session range: roughly $220.00–$243.67 (illustrating how wide the swings have been even on “up” days)
That latest move caps a week in which SanDisk has continued to behave like a high-beta “pure play” on the memory cycle—surging hard on bullish signals from the sector, and pulling back fast when sentiment cools.
What’s moving SanDisk stock right now
1) Micron’s AI-driven outlook reignited the “memory trade”
In late-week trading, Reuters highlighted that Micron jumped after a “blowout forecast” tied to strong AI demand, and noted that other memory companies including SanDisk and Western Digital also surged while the semiconductor index rose. [2]
For SanDisk, the logic is straightforward:
- AI infrastructure growth increases storage intensity across data centers (more training, more inference, more data movement).
- That demand can translate into tighter supply/demand and better pricing for NAND-related products during upcycles.
- Markets often reprice “memory leverage” quickly—especially when visibility improves at a major peer. [3]
2) “Strong conditions beyond 2026” became the new bull-case phrase
A Barron’s report published today emphasized that analysts at Benchmark see tight conditions persisting and that the recent surge reflects a mix of AI-driven flash demand and supply constraints that may extend beyond 2026. [4]
That matters because memory stocks don’t just trade on current earnings—they often trade on the duration of the pricing cycle. If investors believe the upcycle lasts longer, multiples can expand even before reported earnings peak.
3) Wall Street is refreshing models upward—and the targets are climbing
Benchmark has reiterated a Buy rating and $260 target, and Barron’s notes Citi has been even more bullish with a $280 target while forecasting substantially higher 2027 EPS than Benchmark. [5]
Investing.com also reported Benchmark reiteration while citing positive NAND trends and referencing multiple other firms that have moved targets higher over recent weeks. [6]
The 2025 backstory: why SanDisk is “new” again as a stock
SanDisk is not a brand-new company—but it is newly re-introduced to public markets as a standalone equity after its separation from Western Digital.
- On February 24, 2025, SanDisk announced it completed its separation from Western Digital and began trading on Nasdaq under “SNDK.” [7]
- Western Digital’s SEC filing described the mechanics: trading on a “when-issued” basis was expected to begin shortly after the record date, with regular-way trading expected to begin Feb. 24, 2025 under SNDK. [8]
- Nasdaq’s corporate action alert provides additional technical details, including the when-issued market start (Feb. 13, 2025) and a distribution ratio of 0.33333 shares of SanDisk for each WDC share held, with the when-issued symbol SNDKV changing to SNDK on Feb. 24. [9]
In other words: the stock has the mix investors often chase—a fresh “pure-play” narrative, index eligibility, and a cyclical industry upswing—all in the same year.
Today’s headline: SanDisk’s surge and the $13B revenue forecast
The most talked-about SanDisk stock story on Dec. 20, 2025 is the stock’s stunning run since its relisting and the magnitude of the forecasts now circulating.
Barron’s reports:
- Shares have climbed roughly 560% since the early days of trading in February, rising from about $36 to roughly $237.61. [10]
- Benchmark projects revenue growth of 76% from 2025 to 2027, reaching $13 billion, and forecasts EPS rising from $3.02 (2025) to $20.42 (2027) while reiterating a Buy and $260 target. [11]
- Citi is described as even more optimistic, forecasting 2027 EPS of $25.74 and a $280 target, citing enterprise SSD growth and competitiveness of newer technology. [12]
The takeaway: the market is not merely pricing “good quarters.” It is increasingly pricing a multi-year earnings ramp—which is why the stock’s valuation conversation has heated up.
Analyst targets and forecasts: what Wall Street is signaling now
Benchmark and Citi: the most prominent “high-conviction” numbers circulating today
Benchmark’s $260 target and the $13B revenue / $20+ EPS pathway in 2027 provide a concrete bull narrative: the current NAND upcycle extends, enterprise demand scales, and operating leverage expands. [13]
Citi’s higher 2027 EPS estimate and $280 target reinforces that thesis—essentially arguing the earnings slope could be steeper than many models currently assume. [14]
The “consensus” is less clean than the headlines imply
Depending on the data provider and sample window, “consensus” can look meaningfully different:
- TipRanks shows an average price target around $262.71, with a high forecast of $300 and low of $220 (based on its tracked analyst set). [15]
- MarketBeat lists an analyst consensus price target of $213.33 (with substantial dispersion) and summarizes a “Moderate Buy” type consensus in its coverage. [16]
Why the mismatch? In fast-moving stocks—especially newly listed/spun names—target databases can lag, include stale targets from earlier in the cycle, or differ in which analysts and research notes are counted.
More recent notes: NAND pricing, demand, and additional target raises
An Investing.com report (published Dec. 18) said Benchmark reiterated Buy / $260 and discussed NAND pricing trends, demand expectations into 2026, and referenced other firms’ targets (including mentions of Bernstein raising its target to $300). [17]
Fundamentals: what the latest publicly reported numbers say
SanDisk’s 2025 revenue base and profitability context
Reuters’ company financials page lists (in USD millions):
- 2025 revenue:$7,355
- 2025 net income:-$1,641 (a loss)
- 2025 gross profit:$2,212 [18]
That combination—strong revenue scale but a GAAP loss—underscores the reality of memory markets: pricing cycles and cost structure can dominate reported profitability.
Recent quarter performance and guidance: strong results, but costs matter
MarketBeat summarizes SanDisk’s quarterly report from Nov. 6, 2025, stating:
- EPS of $1.22 versus $0.58 expected
- Revenue of $2.31B versus $2.12B expected
- Guidance cited for the following quarter includes EPS in the $3.00–$3.40 range [19]
However, investors have also seen reminders that ramp costs can interrupt the straight-line narrative. Earlier this year, Investopedia reported a pullback after profit estimates came in light due to fab startup costs, even though results exceeded expectations. [20]
Technology and product catalysts: why the market cares about BiCS8 and enterprise SSDs
Much of the 2025 SanDisk bull case rests on the idea that the company is not simply “riding NAND pricing,” but also extending its position in higher-value segments.
Highlights from company announcements:
- In May 2025, SanDisk unveiled a flagship client SSD and explicitly referenced BiCS8 NAND technology as part of the performance and efficiency story. [21]
- In August 2025, SanDisk showcased its UltraQLC platform and referenced 128TB and 256TB enterprise SSD capacity milestones, with stated availability timelines reaching into the first half of 2026 for certain ultra-high-capacity drives. [22]
Why this matters for the stock: the market tends to award higher multiples when a memory company can credibly argue it’s gaining mix and margin through enterprise/AI-oriented products, rather than competing only on commodity pricing.
Volatility check: why “AI bubble” headlines still matter for SNDK
SanDisk’s upside torque cuts both ways.
Reuters reported that on December 12, 2025, amid broader worries about AI trade froth and rates, SanDisk fell 14.7% and was the S&P 500’s biggest percentage decliner on the day. [23]
This matters for anyone following the stock into 2026:
- If investors rotate out of AI infrastructure trades, high-momentum memory names can drop fast.
- Options activity and rapid repricing can amplify both rallies and pullbacks.
In short: even if the long-term demand thesis is intact, the path can be turbulent.
What to watch next for SanDisk stock in 2026
Here are the most practical items that may determine whether SanDisk’s rally consolidates—or extends:
- NAND pricing and supply discipline
Analysts are watching whether demand continues to outstrip supply into 2026, and whether pricing remains firm (or reverts). [24] - Enterprise SSD traction and capacity roadmaps
Updates around high-capacity enterprise SSD shipments and adoption timelines are likely to be treated as “proof points” that the AI-storage thesis is translating into revenue mix. [25] - Margin progression versus ramp costs
As seen earlier in 2025, startup costs can pressure near-term profit outlook even when top-line demand is strong. [26] - Index flows and broader market risk appetite
SanDisk’s move into the S&P 500 (effective Nov. 28, 2025) increased visibility and potential passive fund exposure—but the same visibility can magnify “crowded trade” dynamics during risk-off moments. [27]
Quick FAQ for Google Discover readers
What is SanDisk’s stock ticker?
SanDisk Corporation trades on Nasdaq under SNDK. [28]
Why did SanDisk stock jump this week?
The biggest near-term spark was a memory-sector rally after Micron’s upbeat outlook tied to AI demand, which Reuters noted also lifted SanDisk and other memory names. [29]
Is SanDisk in the S&P 500?
Yes. S&P Dow Jones Indices announced SanDisk would be added to the S&P 500 effective prior to the open on Nov. 28, 2025. [30]
What are analysts projecting for SanDisk through 2027?
A widely cited forecast in today’s coverage says Benchmark projects revenue reaching $13B by 2027 with large EPS expansion, while Citi is cited with an even higher 2027 EPS estimate and a higher target. [31]
Bottom line
As of Dec. 20, 2025, SanDisk stock is being priced as a premier “AI-storage” beneficiary—and today’s reporting makes clear why: the company’s re-listing story, S&P 500 inclusion, and a re-accelerating memory cycle narrative have converged, while analysts publish forecasts that extend well into 2026–2027. [32]
The bullish case hinges on two things holding at once: durable NAND pricing strength and credible execution in enterprise storage products. The bear case doesn’t require the thesis to break—only that sentiment shifts, ramp costs rise, or the cycle turns sooner than investors expect, which recent volatility has already previewed. [33]
References
1. www.reuters.com, 2. www.reuters.com, 3. www.reuters.com, 4. www.barrons.com, 5. www.barrons.com, 6. www.investing.com, 7. www.sandisk.com, 8. www.sec.gov, 9. www.nasdaqtrader.com, 10. www.barrons.com, 11. www.barrons.com, 12. www.barrons.com, 13. www.barrons.com, 14. www.barrons.com, 15. www.tipranks.com, 16. www.marketbeat.com, 17. www.investing.com, 18. www.reuters.com, 19. www.marketbeat.com, 20. www.investopedia.com, 21. www.sandisk.com, 22. www.sandisk.com, 23. www.reuters.com, 24. www.investing.com, 25. www.sandisk.com, 26. www.investopedia.com, 27. press.spglobal.com, 28. www.sandisk.com, 29. www.reuters.com, 30. press.spglobal.com, 31. www.barrons.com, 32. www.barrons.com, 33. www.reuters.com
