SanDisk Stock Jumps as Rosenblatt Sees AI Driving SNDK Toward $2,400

SanDisk stock surged on Tuesday after Rosenblatt initiated coverage of the memory-chip company with a Buy rating and a $2,400 price target, adding fresh momentum to one of 2026’s biggest AI-driven stock rallies. SNDK shares gained more than 6% during Tuesday’s session after closing Monday at $1,766.64. The new target implies roughly 36% upside from Monday’s closing price and comes after SanDisk stock has already risen more than 600% this year.

The call arrives as investors increasingly look beyond GPUs for the next beneficiaries of artificial intelligence spending. Rosenblatt’s thesis is that NAND flash, traditionally viewed as cyclical commodity storage, is becoming more strategically important as AI models generate and process increasingly large amounts of data.

Why Is SanDisk Stock Rising Today?

The immediate catalyst behind the SanDisk stock price rally is Rosenblatt analyst Kevin Cassidy’s decision to initiate coverage with a Buy rating and a $2,400 price target. Cassidy argues that new AI computing platforms are increasing requirements for storage density, performance, endurance and reliable supply. That could reduce the industry’s traditional focus on simply producing NAND at the lowest possible cost.

The upgrade also coincides with another strong session for memory stocks. Micron Technology and SK Hynix shares advanced Tuesday as investors continued buying companies exposed to AI memory and data-center demand. That broader move makes SanDisk’s rally more than an isolated analyst-upgrade story. It reflects growing investor interest in the memory and storage layer of the AI infrastructure buildout.

SanDisk $2,400 Price Target Puts AI Storage in Focus

Rosenblatt’s SanDisk price target of $2,400 is based largely on the view that NAND’s role within AI systems is changing. AI infrastructure requires enormous amounts of data to be stored and moved efficiently. As models become larger and inference workloads expand, storage performance can become increasingly important alongside GPUs, networking equipment and high-bandwidth memory.

SanDisk could benefit through its BiCS8 and BiCS10 NAND platforms, developed alongside manufacturing partner Kioxia. Rosenblatt highlighted the technology as one factor that could help SanDisk maintain competitive performance and production costs.

The company also has multiyear supply agreements with major customers, giving it greater visibility into future demand during a period when memory supply remains tight. That provides a different argument for SNDK than simply betting on another cyclical increase in NAND prices.

AI Memory Demand Fuels SanDisk Stock Rally

The broader AI memory boom has already transformed SanDisk’s financial performance. In its latest reported quarter, SanDisk generated $8.97 billion in revenue, while data-center revenue surged 103% sequentially to $2.98 billion. The company guided fiscal first-quarter 2027 revenue to between $10.3 billion and $10.8 billion.

NAND market conditions are also supportive. Counterpoint Research estimates that the global NAND market expanded about 70% in the second quarter of 2026, helped by rising prices, following even stronger growth during the first quarter.

Tight memory supply has helped manufacturers command higher prices at the same time that AI data centers require greater storage capacity. Barron’s reported that average NAND selling prices could rise more than 20% during the third quarter, another potential tailwind for SanDisk and other memory producers.

SanDisk Stock Leads Broader Memory Chip Rally

SanDisk is not the only company benefiting from the shift. Micron, SK Hynix and other memory stocks have also rallied as investors reassess how much memory will be required to support expanding AI infrastructure.

That matters because the first phase of the AI stock rally was dominated by GPU companies such as Nvidia. Investor attention subsequently expanded toward networking, power infrastructure, data centers and memory.

SanDisk sits directly within that expanding ecosystem through enterprise NAND storage. However, its extraordinary share-price appreciation also raises the bar for future results. SNDK has climbed more than 600% this year and more than 1,600% over the past 12 months, meaning expectations for AI-driven growth are already substantial.

The stock’s decline on Monday despite gains across other memory names also showed that profit-taking can emerge quickly following such a large advance

SanDisk Stock Forecast: Can SNDK Reach $2,400?

The latest SanDisk stock forecast has become considerably more bullish following Rosenblatt’s initiation. Its $2,400 target sits above the current Wall Street consensus. Investing.com data show an average 12-month analyst target of approximately $2,137, although individual forecasts vary substantially. Bernstein has a $3,000 target, while Wells Fargo’s target stands at $1,550.

That wide range highlights the uncertainty surrounding SNDK after its exceptional rally. For the bullish case, continued data-center growth, higher NAND prices and stronger AI storage requirements could support further earnings expansion.

The risks run in the opposite direction. Memory remains a cyclical industry, and increasing supply, weaker AI capital expenditure or declining NAND prices could challenge current growth expectations. For now, Tuesday’s move shows investors remain willing to pay for exposure to the AI memory trade, with Rosenblatt’s $2,400 target providing the latest catalyst for SanDisk stock.