SanDisk shares soar 3,400% in 1 yr. Can it go on?

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Key points

• Top Trending Stocks: SBI Share Cost, Axis Bank Share Rate, HDFC Bank Share Cost, Infosys Share Rate, Wipro Share Cost, NTPC Share Rate.
• It makes it the best-performing stock in the S&P 500 in 2026, ahead of Dell Technologies, which is up almost 300%.
• At its Investor Day, the firm projected the enterprise data centre flash total addressable market to expand to 1.2 zettabytes by 2030.
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SanDisk shares soar 3, 400% in one year. Can the rally sustain its momentum? ETMarkets.comLast Updated: Aug 19, 2026, 07: 15: 00 PM IST.

As investors monitored Iran tensions and key retail earnings for clues on consumer health, US stock futures edged higher after a tech-led selloff.

SanDisk Corp has become one of the most dramatic winners of the AI trade, with the stock up more than 3, 400% in one year as investors bet on rising demand for flash memory applied in data centres and AI inference workloads. The stock has gained 628.74% so far this year. It makes it the best-performing stock in the S&P 500 in 2026, ahead of Dell Technologies, which is up almost 300%. While its three-year gain stands at 4, 580%, over one year, SanDisk has returned 3, 415%. According to a report on TheStreet, JPMorgan has reinstated coverage on SanDisk with an Overweight rating and a cost target of $2, 250 on August 16. JPMorgan's bullish view rests on three broad points: SanDisk's role in the global NAND flash market, rising AI-led demand for enterprise data centre storage, and a new business model that gives the firm more earnings visibility. As on 19 Aug 2026, 01: 30 AM IST.

Why JPMorgan is bullish? SanDisk is one of the top five global NAND flash memory suppliers. NAND flash is applied in storage products throughout phones, computers, servers and data centres. The investor focus now is on enterprise flash storage, where AI inference workloads are projected to drive stronger demand.: Global Market: Japan shares slide as chip stocks tumble on global tech rout Live Events.

At its Investor Day, the firm projected the enterprise data centre flash total addressable market to expand to 1.2 zettabytes by 2030. A key driver is AI inference, including storage needs linked to KV cache workloads. The market is additionally paying attention to SanDisk's new business model. The firm has signed NBM agreements with eight key customers. These agreements include committed volumes and minimum financial guarantees. SanDisk's agreements now cover regarding 50% of bits in fiscal 2027 and roughly two-thirds of bits in fiscal 2028. This gives investors more confidence that future demand and revenue will be less volatile than in past cycles. Technology is another reason behind the rally. SanDisk has outlined its BiCS9 and BiCS10 QLC NAND roadmap. BiCS10 is projected to deliver a 60% rise in bit density compared with BiCS8. Higher density helps reduce cost per bit and allows the firm to offer more storage in smaller physical space. This becomes more useful as data centres try to manage rising AI storage needs. SanDisk is additionally working on High Bandwidth Flash technology aimed at AI inference applications. The firm is trying to show that it is not only benefiting from better NAND pricing, but additionally building products for the next phase of AI infrastructure demand. The sharp rise in the stock means expectations are now high. A 3, 400% one-year gain leaves less room for disappointment if demand slows, pricing weakens or the firm fails to deliver on its technology roadmap. Still, JPMorgan's $2, 250 target demonstrates that some on Wall Street believe the rally may have further to run. The bet is that AI demand is changing the storage market, and SanDisk is one of the few sizeable players positioned to benefit directly. (Disclaimer: Recommendations, suggestions, views and opinions given by the experts are their own. These do not represent the views of Economic Times).

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Top Trending Stocks: SBI Share Cost, Axis Bank Share Rate, HDFC Bank Share Cost, Infosys Share Rate, Wipro Share Cost, NTPC Share Rate. US futurestech selloffIran tensionsretail earningsWall Streetstock marketconsumer spendingbond yieldsinvestorspremarket trading. Are patients paying the cost for India's PE-led healthcare boom?

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Taken together, the developments around sanDisk shares soar 3, 400% in 1 yr. Can it go on? Point to a situation that is still moving, and the coming days should bring more clarity.