SNDK Tops S&P 500 Amid Optimism Around DRAM ETF’s $1B AUM

• SanDisk counts itself among the highest weights in the DRAM ETF. 
• SNDK is S&P500’s top performer so far this year, up near 300%.
• Inclusion in the Nasdaq-100 index provides added support to SNDK stock.

SanDisk (SNDK) stock surged to record highs on Wednesday and emerged as the top performer in the S&P 500 so far this year, driven by optimism around its potential inclusion in the Nasdaq-100 Index and the news that a new fund focused on AI-oriented memory stocks has crossed $1 billion in assets under management.

Roundhill Memory ETF (DRAM), the first ETF dedicated to the memory and data storage sector of the semiconductor industry, saw its assets under management (AUM) soar to over $1 billion in the first three weeks since its launch on April 2, 2026. 

SNDK currently holds the fifth highest weight in the ETF at 5% followed by Japan’s Kioxia Holdings (6%), South Korean heavyweights Samsung (23.6%) and SK hynix (25.8%) and Micron Technologies (23.9%) from the U.S.

SanDisk is also the second largest company after Micron Technologies (MU) in 3D NAND flash tech which is particularly used for enterprise SSDs and high-capacity portable storage amid growing memory needs for AI. 

About DRAM ETF 

DRAM ETF posted a net $1.03 billion inflow in three weeks, according to FactSet. The fund charges a 0.65% annual management fee. 

The fund is designed to provide pure-play exposure to companies involved in semiconductor memory, such as HBM (High Bandwidth Memory), DRAM, and NAND flash—all of which are critical to the current AI infrastructure build-out, according to Roundhill. 

What Do Analysts Say?

SanDisk has seen a host of recent analyst action. Brokerage firms have significantly raised their price targets for SanDisk, maintaining a positive outlook on the company.

Bernstein SocGen Group raised its price target from $1,000 to $1,250, keeping an ‘Outperform’ rating, citing stronger-than-expected NAND prices, while BofA Securities increased its price target from $900 to $1,080, citing a favorable market shift toward data centers.

Evercore ISI last week on April 13 initiated coverage on SanDisk with an ‘Outperform’ rating and a price target of $1,200, based on the company's strong position to capitalize on AI infrastructure demands.

What Do Retail Investors Say?

One user highlighted that stocks like SNDK have the tendency to go higher. 

Another user claimed SNDK to be the greatest stock ever.

https://stocktwits.com/ycdctx/message/651049126

The stock has soared 306% year-to-date.

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