--- title: "What Is Going on With SanDisk Stock on Tuesday?" type: "News" locale: "en" url: "https://longbridge.com/en/news/304146860.md" description: "SanDisk stock surged over 5.5% to $1,134 on Tuesday, driven by surging AI data center demand and a $93.9 billion long-term supply pipeline. The rally reflects a broader memory sector rebound as investors anticipate persistent supply constraints. Rosenblatt analyst Kevin Cassidy maintained a Buy rating with a $2,400 price target, citing strong fiscal Q1 results and improved visibility from new business model agreements. While some analysts remain cautious on valuation, the stock's performance highlights significant growth in AI-related storage." datetime: "2026-11-03T16:33:59.000Z" locales: - [zh-CN](https://longbridge.com/zh-CN/news/304146860.md) - [en](https://longbridge.com/en/news/304146860.md) - [zh-HK](https://longbridge.com/zh-HK/news/304146860.md) generator: "portal-rs" --- # What Is Going on With SanDisk Stock on Tuesday? **SanDisk Corp.** (NASDAQ:SNDK) stock gained about 5.5% Tuesday as memory and storage names staged a strong relief rally following an overdone selloff, while investors returned to the sector on expectations that AI-driven supply constraints could persist for years. The rebound extended to rivals **Micron Technology Inc.** (NASDAQ:MU), **SK Hynix Inc.** (NASDAQ:SKHY) and **Western Digital Corp.** (NASDAQ:WDC), as traders moved back into memory names following recent declines. Technology stocks gained about 1.4%, while the S&P 500 rose 0.4%. SanDisk outperformed the broader technology sector. ## Tight Supply and AI Demand Support the Rebound The memory complex remains focused on constrained supply as hyperscalers seek multiyear agreements to secure capacity for AI infrastructure. Micron gained more than 3% Tuesday amid expectations that memory shortages could persist into 2028 and beyond. More than 75% of Micron’s 2027 output is already committed, according to previously cited industry commentary. SanDisk is also benefiting from rising AI-related storage demand, higher pricing and stronger visibility into long-term customer commitments. The stock gained almost 380% in 2026, compared with the **PHLX Semiconductor Index’s** gain of more than 50%. ## Rosenblatt Sees Data Center Demand Driving Growth **Rosenblatt** analyst Kevin Cassidy maintained a Buy rating and a $2,400 price forecast, based on 10 times his fiscal 2028 non-GAAP EPS estimate. Cassidy highlighted SanDisk’s fiscal first-quarter revenue of $11.03 billion, up 378% year over year and 23% sequentially, above his $10.55 billion estimate and the $10.72 billion consensus. Adjusted EPS reached $49.51, topping Cassidy’s $45.80 estimate and the $46.67 consensus. Data center revenue surged 61% sequentially and 1,682% year over year to $4.80 billion, while non-GAAP gross margin reached 85.1%. Sandisk generated $5.7 billion in adjusted free cash flow. ## Long-Term Contracts Improve Visibility Cassidy said SanDisk’s New Business Model agreements are performing better than expected. The company has signed agreements with eight customers covering about 50% of fiscal 2027 bit production and roughly two-thirds of fiscal 2028 production, representing $93.9 billion in minimum committed revenue. Cassidy said demand from potential agreements exceeds available supply through the end of the decade, while 95% of existing agreements involve investment-grade customers. He also expects AI inference, TLC and QLC enterprise SSD adoption and KV-cache tiering to expand NAND demand. SanDisk expects KV cache to represent roughly one-third of the AI data-center flash market by decade-end. ## Cassidy Raises Estimates Cassidy raised his fiscal second-quarter revenue estimate to $12.40 billion from $12.20 billion and adjusted EPS to $56.90 from $52.98. For fiscal 2027, he increased revenue to $49.48 billion from $48.80 billion and EPS to $221.28 from $210. For fiscal 2028, he maintained his $60 billion revenue forecast and raised EPS to $247.71 from $240. Sandisk itself guided second-quarter revenue to $12.2 billion to $12.6 billion and adjusted EPS to $55 to $57. ## Analysts Remain Mixed on Valuation Recent analyst actions show differing views after the stock’s sharp run. **Fox Advisors** downgraded Sandisk to Equal-Weight on Nov. 2, while **Wells Fargo** maintained Equal-Weight and lowered its forecast to $1,300 on Oct. 30. Rosenblatt remained substantially more bullish, maintaining Buy and its $2,400 forecast. The broader debate now centers on whether sustained AI storage demand and long-term supply commitments can offset valuation concerns and the risk of future capacity additions. ## Top ETF Exposure - **Invesco S&P 500 Pure Growth ETF** (NYSE:RPG): 6.94% Weight - **First Trust US Equity Opportunities ETF** (NYSE:FPX): 5.85% Weight - **Tortoise AI Infrastructure ETF** (NYSE:TCAI): 4.04% Weight **Significance:** Because SNDK carries such a heavy weight in these funds, any significant inflows or outflows for these ETFs will likely force automatic buying or selling of the stock. ## Price Action **SNDK Stock Price Activity:** SanDisk shares are trading higher by 5.46% at $1,133.79 at the time of publication on Tuesday, according to Benzinga Pro data. *Photo: jejim from Shutterstock* **Read Also: Marvell Rumored to Buy Lumentum in Major Challenge to Broadcom: Counterpoint** ### Related Stocks - [MU.US](https://longbridge.com/en/quote/MU.US.md) - [SKHY.US](https://longbridge.com/en/quote/SKHY.US.md) - [SNDK.US](https://longbridge.com/en/quote/SNDK.US.md) - [WDC.US](https://longbridge.com/en/quote/WDC.US.md) - [WDCVV.US](https://longbridge.com/en/quote/WDCVV.US.md) - [HYNX.US](https://longbridge.com/en/quote/HYNX.US.md) - [MUD.US](https://longbridge.com/en/quote/MUD.US.md) - [MULL.US](https://longbridge.com/en/quote/MULL.US.md) - [MUU.US](https://longbridge.com/en/quote/MUU.US.md) - [MUZ.US](https://longbridge.com/en/quote/MUZ.US.md) - [SK.US](https://longbridge.com/en/quote/SK.US.md) - [SKDD.US](https://longbridge.com/en/quote/SKDD.US.md) - [SKHA.US](https://longbridge.com/en/quote/SKHA.US.md) - [SKHL.US](https://longbridge.com/en/quote/SKHL.US.md) - [SKHN.US](https://longbridge.com/en/quote/SKHN.US.md) - [SKHU.US](https://longbridge.com/en/quote/SKHU.US.md) - [SKHX.US](https://longbridge.com/en/quote/SKHX.US.md) - [SKHZ.US](https://longbridge.com/en/quote/SKHZ.US.md) - [SKUU.US](https://longbridge.com/en/quote/SKUU.US.md) - [SNDC.US](https://longbridge.com/en/quote/SNDC.US.md) - [SNDG.US](https://longbridge.com/en/quote/SNDG.US.md) - [SNDQ.US](https://longbridge.com/en/quote/SNDQ.US.md) - [SNDU.US](https://longbridge.com/en/quote/SNDU.US.md) - [SNXX.US](https://longbridge.com/en/quote/SNXX.US.md) - [WDCC.US](https://longbridge.com/en/quote/WDCC.US.md) - [WDCX.US](https://longbridge.com/en/quote/WDCX.US.md) - [07709.HK](https://longbridge.com/en/quote/07709.HK.md) ## Related News & Research - [Sandisk Has More Demand Than It Can Supply Through 2030, Analyst Says](https://longbridge.com/en/news/303778285.md) - [SK hynix vs. Micron: One AI Memory Stock Is Worth Buying, the Other Is Worth Waiting On, Says Top Investor](https://longbridge.com/en/news/304290568.md) - [SNDK: AI-led NAND demand fueled record results and stronger Q2 guidance](https://longbridge.com/en/news/303640809.md) - [AIA Group Ltd Makes New Investment in Western Digital Corporation $WDC](https://longbridge.com/en/news/304414019.md) - [GRIMES & Co WEALTH MANAGEMENT LLC Sells 10,441 Shares of Micron Technology, Inc. $MU](https://longbridge.com/en/news/304086625.md) --- > **Disclaimer: This article is for reference only and does not constitute any investment advice.**