Overview
- SanDisk’s confirmed Nasdaq-100 addition, effective Monday, April 20, will require funds that track the index to buy the shares, creating mechanical demand from a large pool of passive products.
- Shares have jumped about 2,700% over 12 months and roughly 246% in 2026, though the stock slipped about 5% Tuesday as some investors took profits ahead of the index debut.
- Wall Street remains broadly bullish, with Evercore initiating at Buy with a $1,200 target, Citigroup lifting its target to $980, and Jefferies to $1,000, even as valuation models diverge widely.
- The next fundamental check arrives April 30, when management plans to report fiscal Q3 with guided revenue of $4.4 billion to $4.8 billion and adjusted earnings of $12 to $14 per share.
- Analysts cite strong AI data-center demand for NAND flash and tight supply as key tailwinds, while warning that a post-inclusion sell-the-news move, softer NAND pricing, or delayed data-center builds could pressure the story.