TLDR
- SanDisk stock jumped 27.5% on Tuesday, reaching a new all-time high near $350 after Nvidia CEO Jensen Huang highlighted the critical need for data storage in AI systems at CES 2026
- The entire memory sector rallied, with Western Digital up 16.8%, Micron climbing 10%, and Seagate gaining 14%
- NAND flash memory prices are projected to rise 30% to 35% in Q1 2026, according to Morgan Stanley
- SanDisk has surged over 1,080% since its April 2025 low and is up more than 40% in the first three trading days of 2026
- Wall Street maintains a Strong Buy rating with 11 Buy ratings and three Holds
SanDisk stock rocketed to an all-time high on Tuesday, climbing to nearly $350 after a 27.5% single-day surge. The flash memory and storage company extended gains in after-hours trading, adding more than 2%.
Sandisk Corporation, SNDK
The rally came after Nvidia CEO Jensen Huang spoke at CES 2026 on Monday. Huang described the data storage market as “completely unserved” and predicted it could become the largest storage market in the world.
“This is a market that never existed, and this market will likely be the largest storage market in the world, basically holding the working memory of the world’s AIs,” Huang told analysts at the conference.
The comments triggered a sector-wide rally across data storage stocks. Western Digital shares rose 16.8%, while Micron climbed 10%. Seagate Technology Holdings gained nearly 14%.
Memory Prices Set to Jump
Morgan Stanley projects NAND flash memory prices will rise 30% to 35% in the first quarter of 2026. NAND flash serves as a key component for long-term data storage and forms the core of SanDisk’s product portfolio.
Earlier this week, Korea Economic Daily reported Samsung Electronics and SK Hynix were seeking 60% to 70% price increases for server DRAM in Q1 compared to Q4 2024. The tight supply and surging demand stem from AI training and inferencing needs.
Bloomberg Intelligence analyst Jake Silverman noted Huang’s CES comments “suggest that demand for NAND storage will remain robust across Nvidia systems.”
AI Infrastructure Drives Demand
Bank of America analysts led by Wamsi Mohan identified SanDisk and other memory companies as “key beneficiaries” of the push for AI inferencing and edge computing in 2026. The firm expects organizations to retain more data for training, analytics, and compliance purposes.
Storage demand is “skyrocketing in tandem” with growing use in drones, surveillance, vehicles, and sports technology, Mohan wrote in a January 4 note.
Stock Performance and Analyst Ratings
SanDisk became independent in February 2025 after Western Digital spun off its flash storage business. The stock surged more than 500% in 2025, making it one of the top performers in the S&P 500.
SanDisk shares are already up over 40% year to date after just three trading sessions. The stock has soared more than 1,080% since hitting a low on April 22, 2025.
Wall Street analysts maintain a Strong Buy rating on SNDK stock. Eleven analysts rate it as a Buy, while three have Hold ratings. The recent rally has pushed SanDisk above its average price target of $259.83, implying roughly 26% downside from current levels.
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Source: https://blockonomi.com/sandisk-sndk-stock-hits-all-time-high-after-nvidia-ceos-ces-comments/