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Sandisk Corporation (SNDK) Stock

Sandisk Corporation Stock Details, Movements and Public Alerts

SanDisk (SNDK): The Reborn Flash Memory Giant Riding AI Demand to 544% Stock Gains

SanDisk returned to public markets in February 2025 after splitting from Western Digital, and the results exceeded every expectation. The stock surged roughly 544% in its first year of trading, making it one of the top-performing spin-offs in recent memory. CEO David Goeckeler refocused the company on NAND flash memory, the storage technology inside everything from smartphones to AI data center servers. Fiscal 2025 revenue reached $7.4 billion, and Q1 fiscal 2026 (ended September 2025) delivered $2.31 billion in revenue, up 26% sequentially. Gross margins expanded from the low 20s in late 2024 to 36% by late 2025, driven by NAND pricing recovery, a shift to higher-margin QLC (quad-level cell) products, and the company's proprietary Stargate controller technology that reduces manufacturing costs while improving performance.

52-Week Range

$725.00 - $27.89

-10.35% from high · +2230.89% from low

Avg Daily Volume

22,276,586

20-day average

100-day avg: 13,783,271

Fundamentals

Valuation Metrics

P/E Ratio (TTM)

N/A

Forward P/E

8.03

Price to Book

9.42

EV/EBITDA

63.81

EPS (TTM)

-$7.47

Price to Sales

10.74

Q:How is SNDK valued relative to its earnings and growth?
Valuation data is not available for this stock.
Q:What is SNDK's risk profile compared to the market?
Risk profile data is not available for this stock.

Performance & Growth

Profit Margin

-11.66%

Operating Margin

35.50%

EBITDA

$1.42B

Return on Equity

-9.37%

Return on Assets

5.87%

Revenue Growth (YoY)

61.20%

Earnings Growth (YoY)

618.00%

Q:How profitable and efficient is SNDK's business model?
Sandisk Corporation achieves a profit margin of -11.66%, meaning it retains $-11.66 from every $100 in revenue after all expenses. This relatively low margin suggests the company operates in a competitive environment or high-cost industry where profitability is challenging. The operating margin of 35.50% reveals how efficiently the company runs its core business operations before interest and taxes. With ROE at -9.37% and ROA at 5.87%, the company achieves moderate returns on invested capital.
Q:What are SNDK's recent growth trends?
Sandisk Corporation's revenue grew by 61.20% year-over-year, representing robust expansion that significantly outpaces typical market growth rates. This strong top-line performance suggests the company is successfully capturing market share or benefiting from favorable industry trends. Earnings increased by 618.00% year-over-year, outpacing revenue growth through improved margins. These growth metrics should be evaluated against Computer Hardware industry averages for proper context.

Company Size & Market

Market Cap

$95.9B

Revenue (TTM)

$8.93B

Revenue/Share (TTM)

$61.37

Shares Outstanding

147.57M

Book Value/Share

$69.01

Asset Type

EQUITY

Q:What is SNDK's market capitalization and position?
Sandisk Corporation has a market capitalization of $95.9B, classifying it as a large-cap stock ($10B-$200B). Large-caps are typically industry leaders with established business models, offering a balance of stability and growth potential. They often provide dividend income and are core holdings in institutional portfolios. With 147.57M shares outstanding, the company's ownership is relatively concentrated. As a participant in the Computer Hardware industry, it competes with other firms in this sector.
Q:How does SNDK's price compare to its book value?
Sandisk Corporation's book value per share is $69.01, while the current stock price is $649.97, resulting in a price-to-book (P/B) ratio of 9.42. This high P/B ratio indicates significant intangible assets, strong brand value, or high growth expectations. Technology and consumer brand companies often trade at elevated P/B ratios due to intellectual property and competitive advantages not reflected on the balance sheet. As EQUITY, this represents a specific type of security.

Analyst Ratings

Analyst Target Price

$724.26

11.43% upside potential

Analyst Recommendations

Strong Buy

2

Buy

13

Hold

7

Sell

0

Strong Sell

0

Q:How reliable are analyst predictions for SNDK?
22 analysts cover SNDK with 68% recommending buy/strong buy ratings. Analyst predictions have mixed reliability - studies show consensus rarely beats market returns consistently. The mixed views reflect uncertainty about the outlook. The consensus target of $724.26 implies 11.4% upside, but targets are often adjusted to follow price moves rather than predict them.
Q:What is the Wall Street consensus on SNDK?
Current analyst recommendations:2 Strong Buy, 13 Buy, 7 Hold, 00The bullish tilt suggests optimism about future prospects, though investors should conduct independent research.Remember that analyst opinions often lag price movements and can be influenced by investment banking relationships.

Fundamentals last updated: Feb 21, 2026, 02:11 AM

Technical Indicators

RSI (14-day)

65.59

Neutral

50-Day Moving Average

$414.54

56.79% above MA-50

200-Day Moving Average

$175.80

269.72% above MA-200

MACD Line

58.25

MACD Signal

64.33

MACD Histogram

-6.08

Bearish

Q:What does SNDK's RSI value tell investors?
The RSI (Relative Strength Index) for SNDK is currently 65.59, indicating the stock is showing bullish momentum (60-70 range). The stock has positive momentum without being extremely overbought. This zone often occurs during healthy uptrends where buyers remain in control. Combined with the price being above the 50-day moving average, this confirms bullish conditions.
Q:How should traders interpret SNDK's MACD and moving average crossovers?
MACD analysis shows the MACD line at 58.25 below the signal line at 64.33, with histogram at -6.08. This bearish crossover indicates downward pressure. The wide histogram confirms strong momentum. The 50-day MA ($414.54) is above the 200-day MA ($175.80), forming a golden cross pattern that typically signals a long-term uptrend. Price is currently above both MAs, confirming strength.

Indicators last updated: Feb 22, 2026, 12:47 AM

Active Alerts

Alert Condition
RSI Threshold Cross
Threshold
70
Created
Feb 17, 2026, 05:19 PM
Alert Condition
Price decreases by
Threshold
7%
Created
Feb 12, 2026, 10:09 AM
Alert Condition
Price falls below
Threshold
$540.00
Created
Feb 7, 2026, 05:08 AM

SanDisk (SNDK) Stock Analysis 2025: Complete Investment Guide

The Spin-Off That Unlocked Massive Value

SanDisk's history loops through decades of flash memory innovation. The original SanDisk Corporation was acquired by Western Digital in 2016 for $19 billion. After years of operating the combined hard disk drive and flash memory businesses together, Western Digital split into two companies in February 2025: Western Digital (hard drives) and SanDisk (flash memory). The split was designed to let each business attract investors who valued its specific growth profile and capital allocation strategy.

The market's response was decisive. SanDisk's stock surged approximately 544% from its listing price, reflecting the view that flash memory's growth prospects were being undervalued inside a conglomerate that also sold spinning disk hard drives. As an independent company, CEO Goeckeler can allocate all capital toward NAND technology development and manufacturing capacity for the markets where flash demand is growing fastest: AI data centers, enterprise storage, and mobile devices.

NAND Flash and the AI Storage Opportunity

NAND flash memory stores data without power, making it the technology behind SSDs, USB drives, memory cards, and the storage in every smartphone and data center server. AI workloads have increased storage demand dramatically. Training large language models requires storing terabytes or petabytes of text, image, and video data. Running inference at scale requires fast access to model weights and cached outputs. Enterprise SSDs powered by NAND flash provide the speed and density that AI workloads demand.

SanDisk's shift toward QLC (quad-level cell) NAND is central to its margin expansion story. QLC stores four bits per cell instead of three (TLC) or two (MLC), significantly increasing storage density per chip. The trade-off is slightly lower endurance and speed, but for the majority of enterprise and consumer applications, QLC provides adequate performance at much lower cost per gigabyte. Combined with the proprietary Stargate controller, which optimizes QLC performance and reduces manufacturing costs, SanDisk is delivering more storage at higher margins.

Financial Performance

  • •FY2025 Revenue: $7.4 billion, reflecting NAND pricing recovery and AI-driven demand
  • •Q1 FY2026 Revenue: $2.31 billion, up 26% sequentially, indicating continued acceleration
  • •Gross Margin: Expanded from low 20s in late 2024 to 36% by late 2025
  • •Stock Performance: Approximately 544% gain from February 2025 listing through year-end
  • •Margin Drivers: NAND pricing recovery, QLC mix shift, Stargate controller technology reducing costs
  • •Market Position: One of the top three NAND manufacturers globally alongside Samsung and SK Hynix (through Kioxia JV)

Growth Catalysts

  • •AI Data Center Storage: Every AI training cluster requires massive SSD capacity; enterprise SSD demand growing 30%+ annually
  • •NAND Pricing Cycle: After a deep downturn in 2023-2024, NAND pricing has recovered; reduced industry supply investments during downturn support pricing discipline
  • •QLC Adoption: Higher-density QLC products are gaining share in enterprise and consumer markets; each QLC generation improves cost per gigabyte and expands addressable applications
  • •Independent Capital Allocation: No longer sharing capex with hard drive business; all investment flows to NAND R&D and manufacturing
  • •Kioxia Partnership: Joint venture with Kioxia (formerly Toshiba Memory) shares R&D costs and fab capacity, providing scale advantages

Risks and Challenges

  • •NAND Pricing Cyclicality: Flash memory pricing is highly cyclical; oversupply can crush margins in 2-3 quarters, as the 2023 downturn demonstrated
  • •Valuation After 544% Rally: The stock's extraordinary gain prices in significant future growth; any NAND pricing weakness or demand slowdown could trigger a sharp correction
  • •Competition From Samsung and SK Hynix: Samsung is the world's largest NAND manufacturer with vertically integrated advantages; SK Hynix is investing heavily in enterprise SSDs
  • •Capital Intensity: NAND fabrication requires billions in ongoing investment; technology transitions (from 2D to 3D, from TLC to QLC) demand continuous capital expenditure
  • •AI Demand Concentration: If AI infrastructure spending slows, the enterprise SSD demand surge could moderate faster than the market expects

Competitive Landscape

The NAND flash market is concentrated among four major manufacturers: Samsung (market leader), SK Hynix, SanDisk/Kioxia (joint venture), and Micron Technology. Samsung dominates with the largest market share and vertical integration across memory, controllers, and finished SSDs. SK Hynix has gained share in enterprise SSDs, particularly for AI applications. Micron competes across NAND and DRAM with strong data center relationships.

SanDisk's competitive position benefits from the Kioxia JV, which shares fab costs and R&D investment. The Stargate controller provides differentiation at the product level by optimizing QLC performance for specific workloads. The SanDisk brand carries strong consumer recognition in memory cards and portable storage, while the enterprise business competes on performance, reliability, and total cost of ownership.

Who Is This Stock Suitable For?

Perfect For

  • ✓Semiconductor investors who want pure-play NAND flash exposure without DRAM or logic chip exposure
  • ✓Those who believe AI storage demand is a multi-year growth driver for enterprise SSDs
  • ✓Growth investors comfortable with cyclical industries who time entries around NAND pricing cycles
  • ✓Technology investors seeking spin-off value creation stories with strong operational momentum

Less Suitable For

  • ✗Risk-averse investors (NAND pricing cycles create significant earnings volatility)
  • ✗Income investors (newly public spin-off focused on growth and reinvestment)
  • ✗Value investors after the 544% rally (current valuation reflects substantial optimism)
  • ✗Those who cannot monitor semiconductor supply/demand dynamics and pricing trends

Investment Thesis

SanDisk represents one of the most successful corporate spin-offs in recent years. The separation from Western Digital unlocked a pure-play NAND flash company at the exact moment that AI demand is driving unprecedented growth in enterprise storage. CEO Goeckeler's focus on QLC products and the Stargate controller has expanded margins from the low 20s to 36%, demonstrating that SanDisk can deliver profitability improvements alongside revenue growth.

The risk after a 544% rally is that the good news is priced in. NAND flash is inherently cyclical: manufacturers invest in capacity during upturns, which eventually creates oversupply and crushes pricing. The current upcycle benefits from AI demand and disciplined supply after the 2023-2024 downturn, but cycles turn. Investors should size positions with the understanding that SanDisk's earnings can swing dramatically between peak and trough pricing, regardless of the secular AI demand trend.

Conclusion

SanDisk is the highest-momentum pure-play on NAND flash memory and AI storage demand. The stock suits investors who understand semiconductor cyclicality and want direct exposure to the storage layer of AI infrastructure. After the extraordinary 2025 rally, new positions should be sized for the possibility that NAND pricing cycles could temporarily reverse the margin expansion story.
Bull Case
$310 (25% upside) - AI storage demand accelerates, NAND pricing stays firm, QLC margins expand further, enterprise SSD share gains
Base Case
$250 (flat) - Revenue grows 10-15%, margins stabilize at 35%+, NAND pricing moderates but stays healthy
Bear Case
$140 (44% downside) - NAND oversupply develops, pricing drops 20-30%, AI storage demand grows slower than expected, margins compress to 25%

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