Bernstein Sets $1,000 Target for SanDisk After TurboQuant Selloff

Overview

• Bernstein raised its SanDisk price target to a Street‑high $1,000 and called the post‑Google pullback an overreaction.
• SanDisk shares fell after Google announced TurboQuant, an algorithm meant to ease AI memory bottlenecks that some fear could cut storage needs.
• The company posted Q2 FY2026 revenue of $3.03 billion, up 61% year over year, and introduced 256TB enterprise SSDs for AI data centers.
• Management guided Q3 revenue to $4.4–$4.8 billion with non‑GAAP gross margin of 65–67%, and the company is set to report on April 30.
• Analyst sentiment remains largely positive with 14 of 20 at Strong Buy and a mean target near $752, even after a 1,371% 12‑month stock run.