On August 17, SanDisk Corp. rose 5.12% in pre-market trading to $1,736.6/share, with turnover of $34.11 million, extending its powerful rally of over 35% in recent sessions.

The surge continues to be driven by the company's Investor Day held on August 13, where SanDisk unveiled a long-term financial model projecting mid-to-high teens revenue growth for FY2028-2030, non-GAAP gross margins of approximately 80%, operating margins of approximately 75%, and adjusted free cash flow margins of approximately 50%. The company committed to returning 100% of excess cash to shareholders and disclosed $939 billion in locked-in long-term contracts from eight major customers. SanDisk also announced its first HBF chip has completed tapeout, with initial samples expected for delivery in 2027.

Multiple investment banks responded favorably. JPMorgan upgraded SanDisk to Overweight with a $2,250 target, Goldman Sachs reiterated Buy with a $2,200 target, and RBC raised its target to $1,600. Analysts noted the NAND upcycle could persist for years as high-bandwidth flash consumes 3-4x the wafer capacity of conventional NAND.

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