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Skip NavigationMarketsBusinessInvestingTechPolitics & PolicyVideoWatchlistInvesting ClubPROLivestreamMenuSandisk could punch well above $2,000 per share as its memory hardware becomes increasingly critical to artificial intelligence models, according to Rosenblatt. The investment firm initiated coverage of the data storage manufacturer with a buy rating. It also put a $2,400 price target on shares, implying 36% upside from Monday’s close. “New AI compute platforms are creating an opportunity to reposition NAND Flash (NAND) from a commodity storage medium to a more system-critical component of AI infrastructure,” analyst Kevin Cassidy said Monday in a note to clients. NAND flash memory is a kind of storage technology that can hold onto data without a power source. It is used in both consumer electronics and enterprise systems such as generative AI models. Shares of Sandisk have surged 644% year to date as demand for NAND has reached new heights due to the proliferation of next-generation AI models. SNDK YTD mountain Shares are up 644% in 2026. NAND demand has historically been influenced by pressures to cut costs in smartphones and home computers, according to Rosenblatt. “In AI systems, however, expanding model sizes and data-intensive inference increasingly prioritize density, performance, endurance, and supply certainty over the lowest absolute price,” Cassidy wrote. The analyst added that Sandisk has an edge over competitors due to its 3D NAND flash memory technology BiCS8 and BiCS10 platforms that are capable of packing many bits into a given square millimeter of silicon without requiring much production space. “We believe this can support a favorable bit-cost curve and sustain a performance-and-cost advantage in AI-oriented enterprise storage,” Cassidy said in his note. Rosenblatt’s call falls in line with consensus on Wall Street. Of the 28 analysts covering Sandisk, 24 have a buy or strong buy on the stock, LSEG data shows.Read More