SanDisk Stock Jumps to New 52-Week High After Major Analyst Upgrade
SanDisk Corporation shares surged more than 5% during morning trading, climbing to $1,679.40 and reaching a fresh 52-week high of $1,682.98. The strong rally followed a bullish analyst upgrade from Barclays, which significantly raised its outlook on the stock.
Barclays analyst Tom O’Malley upgraded SanDisk to “Overweight” from “Equal-weight” on May 27 and lifted his price target to $2,300 from $1,200.
Barclays Highlights SanDisk’s Innovative Business Model
According to Barclays, the bullish thesis is focused less on the broader memory market cycle and more on SanDisk’s aggressive and structurally innovative contracting strategy.
The analyst pointed to the company’s New Business Models, which have already secured approximately $42 billion in minimum contractual revenue along with an additional $11 billion in financial guarantees.
Barclays also stated that the Memory and Storage sector remains one of the most attractive areas within the artificial intelligence infrastructure market outside of accelerators.
The firm expects favorable supply-demand dynamics and stronger pricing conditions to continue through 2027.
Mizuho Also Raises Price Target on SanDisk
Adding to the positive momentum, Mizuho analyst Vijay Rakesh also raised the firm’s price target on SanDisk to $1,825 from $1,625 while maintaining an “Outperform” rating on the stock.
The additional analyst support further strengthened investor confidence and helped fuel today’s sharp move higher in SNDK shares.
Record Financial Results Support Bullish Outlook
SanDisk’s latest quarterly earnings report also provided a strong fundamental backdrop for the rally.
The company reported fiscal third-quarter revenue of $5.95 billion, representing a massive 97% sequential increase and exceeding management guidance. GAAP net income came in at $3.615 billion.
The company also posted exceptionally strong growth in its datacenter segment, where revenue surged 233% sequentially.
SanDisk additionally announced five multi-year AI-focused supply agreements valued at roughly $42 billion and unveiled a new $6 billion share repurchase program.
AI Boom Continues to Drive SanDisk Higher
SanDisk has emerged as one of the biggest beneficiaries of the ongoing artificial intelligence infrastructure boom.
The stock has gained more than 4,000% over the past year and is up roughly 570% so far in 2026, making it one of the market’s top-performing AI-related companies.
While broader markets were only modestly positive during the session, with the Nasdaq 100 and S&P 500 posting small gains, SanDisk dramatically outperformed as investors reacted to the combination of bullish analyst upgrades, record earnings, and continued optimism surrounding AI demand.
