Sandisk (SNDK) Stock Rockets 6% on Explosive AI-Driven Earnings – Should You Invest?
Sandisk's stock jumped 6% to $990 after the company reported $3.03 billion in revenue for the first quarter, exceeding Wall Street's expectations. The company's earnings per share reached $6.20, nearly doubling the forecasted $3.31.
Sandisk's shares rose 6% to $990, nearing its 52-week high of $1,002. The company's stock has surged around 2,400% in 2025 due to AI-driven demand for storage solutions. Sandisk reported $3.03 billion in revenue for the first quarter, a 61% year-over-year increase, and earnings per share of $6.20, exceeding expectations. The demand for memory chips and solid-state storage drives has driven the company's success. Multiple Wall Street firms, including UBS and Cantor Fitzgerald, have set $1,000 price targets for Sandisk. The company's valuation has risen to 20.5 times projected forward earnings.
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