The thing about Sandisk growth on the stock market It is to study it carefully. Has accumulated almost 3,000% revaluation in the last year, and is another example of how the AI fever and RAM crisis They are shaping the technology industry and markets. And the company that many of us have known for its USB pendrives and memory cards has become one of the companies that will be the most talked about in 2026.
lseparation from Western Digital. In February 2025, Sandisk completed its separation from Western Digital and began trading independently on the Nasdaq. For almost a decade, the company had been buried under the umbrella of its parent company, tied to a conventional hard drive business that was growing slowly while the AI sector accelerated and gave wings to the rest of the companies that made critical components for data centers.
At the time of going on the market as an independent company, the stock started at around $48. Nothing strange so far.
AI once again plays its role in the market. Actually, Sandisk has not invented anything revolutionary now, but everything has to do with the data center storage demand. The flash memory manufacturing company Kioxia warned last January that its supply of NAND for this entire year was already exhausted. And these types of stories are what make companies start looking at alternatives.
Data centers dedicated to AI need to store gigantic volumes of data to train models and infer results. When they ran out of traditional hard drives (HDDs), they turned to SSD. And when SSDs also became scarce, prices skyrocketed. According to Kingstonanother manufacturer of flash memory products, NAND prices increased by 246% throughout 2025.
Sandisk, being one of the world’s leading manufacturers of NAND memory, found itself at the center of this perfect storm, and in the best possible position.
3,000%. Sandisk’s revenue in the fiscal second quarter of 2026 reached 3,030 million dollarsa growth of 61% year-on-year, while earnings per share multiplied by more than five compared to the same period of the previous year. Revenue from data centers grew 76% year over year in that same quarter, according to the company’s own results filed with the SEC. The company has publicly acknowledged that its factories are working at full capacity.
In this way, the accumulated value of its shares has skyrocketed by more than 3,000%, going from just $30 to surpassing the $1,000 barrier in just over a year.
The key is in Kioxia. A fundamental part of Sandisk’s competitive advantage is its historic alliance with Japan’s Kioxia, formerly Toshiba Memory. This joint venture of more than twenty years allows them to share the astronomical costs of manufacturing chips, which translates into margins higher than those of most of their rivals.
In this way, as we already explained At the end of January, when NAND prices rise, Sandisk does not need to invest in new factories to earn much more, as the additional revenue falls directly into the profit margin. It’s the equivalent of almost free money in a bull market.
The data center segment currently represents more than 55% of sales quarterly from Sandisk, compared to the 30% it represented before the split with WD.
The entry to the Nasdaq-100. A few days ago, Sandisk joined the Nasdaq-100 indexwhich mechanically forces all ETFs and index funds that track that index to buy shares of the company. This carryover effect has given Sandisk an additional boost to its already flying stock.
And now what? The big question is how long this can last. NAND prices they have risen 60% in the first quarter of 2026, with forecasts for another 70-75% increase in the coming months. The CEO of Micron has already publicly declared that the memory shortage will last until 2027. As shared by Ind Money, several analysis firms assure that the crisis could extend until 2028. We will see.
As for companies like Samsung, SK Hynix and Kioxia, the triad of memory companies, they plan to significantly increase your production in the coming years in response to the shortage.
Cover image | sandisk
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