Overview
- SanDisk shares trade near $1,381 after a 3,460.95% one-year surge tied to demand for flash memory in AI data centers.
- Publisher 24/7 Wall St. set a $1,500 price target and a Hold rating, which implies about 8.6% upside and reflects a belief that big gains are already priced in.
- Some Wall Street bulls still see much higher outcomes, with Susquehanna at $2,000 and Mizuho at $1,625, based on a tight supply outlook and successful new product ramps.
- The company’s latest quarter showed revenue of $5.95 billion, gross margin of 78.4%, and non-GAAP EPS of $23.41, with guidance for $7.75 billion to $8.25 billion next quarter.
- Management disclosed about $42 billion in multi‑year supply deals and no long‑term debt, though NAND flash is cyclical and profits could shrink if spot prices or AI server orders cool.