Sandisk (NASDAQ: SNDK) stock was the best-performing S&P 500 stock of 2025, and is off to another great start in 2026 — up 275%, and again, one of the best performers on the market. Strong support from Wall Street analysts is both an acknowledgment of the stock’s performance — and also a tailwind helping to create gains for Sandisk.
Case in point: Citi analyst Asiya Merchant raised her price target on the semiconductor stock this morning. As of 10:15 a.m. ET, Sandisk stock is up 5%.
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Merchant argues that demand for computer memory remains solid and prices keep climbing, driving revenue and profits higher for Sandisk. Insatiable demand for artificial intelligence services keeps driving the demand. So long as this trend continues, Sandisk’s growth curve looks secure.
Merchant raised her price target on Sandisk stock by 12%, to $980 per share — but that’s not all.
Yesterday, Nasdaq announced it’s removing Atlassian (NASDAQ: TEAM) from its Nasdaq-100 index of America’s largest tech stocks, as TheFly.com reports — and replacing it with Sandisk. Funds that track the Nasdaq-100 will be required to sell Atlassian and buy Sandisk, creating even more buying pressure on Sandisk stock.
Analyst upgrades come and go, and the buying pressure from the Nasdaq-100 switcheroo, too, will subside. Long term, Sandisk’s stock price depends more on the business’s performance, and we get our next glimpse of how Sandisk is doing when the company reports fiscal Q3 2026 earnings on April 30.
Forecasts are for Sandisk to flip from a $0.30 per share loss (in Q3 2025) to $14.23 per share in profit. It’s a high bar to pass. If Sandisk fails to clear it — look out below.
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