This Memory Stock Is Up 4,213% In A Year — Susquehanna Says It Can Nearly Double From Current Levels

• Susquehanna stated that its channel checks indicate second-quarter DRAM average selling prices are on track to rise 50% to 60% sequentially, topping expectations for a 50% increase.
• The firm stated that NAND ASPs remain on track to climb 75% to 100% quarter over quarter.
• Reflecting stronger pricing trends and growing confidence in the durability of margins, the analyst raised estimates for the memory chipmakers under coverage.

Shares of SanDisk Corp. (SNDK) are up a whopping 4,155% over the past year, but analysts at Susquehanna believe that the stock can nearly double from its current levels.

According to TheFly, Susquehanna raised its SNDK price target to $3,250 from $2,000, implying nearly 98% upside from current levels. The firm maintained its ‘Positive’ rating on the stock.

SanDisk shares were up nearly 2% in Friday’s opening trade.

Why Is Susquehanna Bullish On SNDK?

Susquehanna stated that its channel checks indicate second-quarter DRAM average selling prices (ASPs) are on track to rise 50% to 60% sequentially, topping expectations for a 50% increase.

The firm stated that NAND ASPs remain on track to climb 75% to 100% quarter over quarter. The analyst raised the firm’s estimates for the memory chipmakers under coverage, reflecting stronger pricing trends and growing confidence in the durability of margins.

This is Susquehanna’s second price target hike for SanDisk in the span of a month. The firm doubled its price target for SNDK to $2,000 from $1,000 earlier in May, after SanDisk’s third-quarter (Q3) earnings shattered Wall Street expectations.

TrendForce Expects Memory Revenue To Explode This Year

Industry research firm TrendForce stated in a new note on Friday that it expects memory revenue to explode in 2026, followed by healthy growth in 2027 as well.

According to the firm, NAND flash memory pricing remains resilient due to strong demand and constrained supply. TrendForce added that the transition from large-scale AI model training to inference-focused Agentic AI applications is fueling a sustained increase in memory demand.

TrendForce raised its 2026 NAND flash market forecast to $270.6 billion, implying annual growth of 280.7%.

The firm expects the market to continue expanding in 2027, reaching nearly $379.4 billion, with 40.2% year-over-year growth.

How Did Retail Traders React To SNDK Stock?

Retail sentiment on Stocktwits around SanDisk trended in the ‘bearish’ territory at the time of writing.

SNDK stock is up 602% year-to-date and 4,213% over the past 12 months. The S&P 500 ETF (SPY) is up 28% over the past 12 months, while the Invesco QQQ Trust (QQQ) is up 42%.

The Tradr 2X Long Sndk Daily ETF (SNXX) is up 713% during this period, while the State Street Technology Select Sector SPDR ETF (XLK) is up 64%.

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