SNDK
Memory names are back on the dance floor
SanDisk is having one of those “wait, this stock can do that?” moments. Shares popped after the company’s latest financial results showed a much healthier business, with revenue jumping 51% quarter over quarter to $8.97 billion and full-year fiscal 2026 revenue surging to $20.25 billion.
The real carrot: guidance, buybacks, and a new script
The part Wall Street seems to be eating up isn’t just the headline growth — it’s the way SanDisk is trying to rewrite the usual memory-company story. Management boosted forward guidance, now seeing first-quarter revenue in the $10.3 billion to $10.8 billion range, and laid out a more conservative model for the business that it says can still grow revenue in the mid-to-high teens through 2030.
Oh, and it tossed in an additional $14 billion share repurchase program, which is basically the corporate version of saying, “We think this thing is cheap, so let’s buy some of it back.” Total remaining authorization now sits at $15.5 billion.
Analysts are leaning in
The Street has started penciling in more upside too. UBS is at $1,750, Mizuho lifted its target to $1,900, and Goldman Sachs, JPMorgan, and Cantor Fitzgerald are all floating numbers above $2,000, with Cantor’s eye-popping $2,900 target the most bullish in the bunch.
That doesn’t mean the stock is suddenly risk-free — memory is still memory, meaning cyclical, moody, and prone to dramatic plot twists. But SanDisk is clearly trying to move from “boom-bust chip trade” to “steady AI infrastructure cash machine.” If that narrative sticks, the valuation gap versus names like Micron and Nvidia could keep shrinking.
Big picture: investors don’t just buy numbers — they buy stories. Right now, SanDisk is telling a much better one.