Overview
- Bernstein’s Mark C. Newman raised SanDisk’s target to $1,000 from $580 and kept an outperform rating, implying roughly 50% upside from about $665 and marking the Street’s highest target.
- SanDisk shares have surged, with reports noting a 166% gain in 2026 to date and a 242% rise since November 2025.
- Fiscal Q2 FY2026 results showed revenue of $3.03 billion, GAAP net income of $803 million, gross margin near 51%, and non‑GAAP EPS of $6.20.
- The company guided fiscal Q3 revenue to $4.4–$4.8 billion with gross margin of about 65%–67% and projected non‑GAAP EPS of $12–$14.
- Management and analysts point to strong AI data‑center demand and tight NAND supply as key tailwinds, while noting memory’s cyclical risks and contrasting valuations versus peers.