SanDisk stock neared $2,000 per share this week as surging demand for NAND flash memory from artificial intelligence data centers propelled the memory chipmaker to record highs. The stock reached an all-time peak of $2,021.65 on June 11, trading near $1,980 as of mid-June, reflecting a dramatic surge since the company’s spin-off from Western Digital just 16 months earlier.
The rally reflects a fundamental supply crunch in memory chips. Global NAND flash memory revenues hit a record $46 billion in the first quarter of 2026, driven by AI infrastructure buildouts, according to Counterpoint Research. SanDisk has already sold out its entire 2026 production capacity, with 2027 allocations being rapidly claimed by major cloud and AI hyperscalers seeking long-term supply agreements.
SanDisk began trading independently on February 24, 2025, at roughly $48 per share after Western Digital completed the separation of its flash memory division. The company’s transformation into a pure-play NAND flash supplier positioned it perfectly for the AI storage boom. Spot prices for 1-terabyte TLC NAND flash wafers soared 25% in February 2026 alone, marking the sharpest single-month increase, according to Forbes analysis.
The memory chip sector has become one of Wall Street’s hottest trades. Micron Technology, a direct competitor, surged 239% in 2025 and crossed a $1 trillion market capitalization in May 2026 on identical AI demand tailwinds, according to Reuters and Yahoo Finance. When Micron achieved that milestone, analysts raised price targets across the sector, with UBS setting Micron’s Street-high target at $1,625. SanDisk has captured similar investor enthusiasm, with analyst price targets now ranging from $252 to $3,250, and a consensus target around $1,751, according to TipRanks and MarketBeat data.
The undersupply is expected to persist. SanDisk reports an undersupplied NAND market through the end of 2026, with memory shortages potentially extending into 2027, according to LinkedIn industry commentary. That visibility into multi-year capacity constraints has convinced major AI infrastructure operators to lock in long-term pricing and supply with SanDisk, creating a structural tailwind for margins and revenue growth.
Sources
- Yahoo Finance — SanDisk all-time high of $2,021.65 on June 11, 2026, and current trading price near $1,980
- TradingView — Confirmation of $2,021.65 all-time high on June 11, 2026
- Counterpoint Research — Global NAND flash memory market at $46 billion in Q1 2026, driven by AI infrastructure demand
- Intellectia.ai — SanDisk sold out 2026 production capacity with 2027 capacity being rapidly acquired
- Blocks & Files — SanDisk began trading on February 24, 2025, at $52.20 opening, closing at $48.60
- Forbes — Spot prices for 1TB TLC NAND flash wafers soared 25% in February 2026
- Reuters — Micron Technology surged 239% in 2025 and reached $1 trillion market cap in May 2026
- Yahoo Finance — Micron’s 239% surge in 2025 and UBS price target of $1,625
- TipRanks — Analyst price targets for SanDisk ranging from $252 to $3,250 with average around $1,843
- MarketBeat — Consensus analyst price target of $1,580.67 based on 25 analysts
- LinkedIn — NAND undersupply extending through 2026 and into 2027
