On May 26, SanDisk (SNDK) rose 3.4% in pre-market trading, trading at $1,527.93 USD/share, with trading volume of approximately $74.8 million. The rebound extends a recovery pattern driven by multiple bullish catalysts in the storage sector.

On the news front, Citi recently raised its target price on SanDisk from $1,300 to $2,025, implying over 50% upside, citing an unprecedented AI-driven storage super cycle. Citi forecasts NAND average selling prices to surge 186% in 2026, with enterprise SSD prices climbing approximately 265%, fueled by insatiable AI training and inference demand from hyperscalers. Additionally, SanDisk CEO David Goeckeler told investors at a JPMorgan conference that the flash memory market will remain undersupplied for a very long time, as the company shifts toward multi-year agreements to stabilize pricing and visibility. SanDisk reported Q3 fiscal 2026 revenue of $5.95 billion, up 252% year-over-year, with gross margins reaching 78.4% and AI data center business accounting for over 60% of revenue. The company also authorized $6 billion in share buybacks.

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