Prediction: This Will Be Sandisk’s Stock Price by the End of 2026
Key Points
Sandisk stock has rallied impressively this year, and there is a solid chance of more upside over the next three months.
NAND flash prices are expected to increase at a stronger pace in the second half of 2026.
Sandisk's earnings growth potential and cheap valuation suggest that its bull run isn't over.
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With incredible gains of 633% in 2026, Sandisk (NASDAQ:SNDK) has been one of the hottest stocks on the market so far this year.
However, shares of the company that manufactures NAND flash storage products, such as portable storage drives and solid-state drives (SSDs), have been under pressure lately. Sandisk stock has pulled back 25% from the 52-week high it reached on June 22.
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Investors may now be wondering whether this high-flying growth stock can step on the gas again, especially given the favorable conditions in the NAND flash market. Let's take a closer look at Sandisk's prospects and see if the stock can make another big move by the end of 2026.
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Sandisk stock has started rallying once again
The past two months have been good ones for Sandisk investors, with shares of the company jumping by 43% since the beginning of August. This impressive jump has been fueled by Sandisk's impressive fiscal fourth-quarter 2026 results (for the year ended July 3) on Aug. 5.
Sandisk's fiscal Q4 revenue increased by 372% year over year to $8.96 billion. What's more, the company's non-GAAP earnings per share jumped from $0.29 in the year-ago period to $39.25. Even better, Sandisk's guidance for the current quarter indicates that the company's terrific growth is here to stay.
The company expects revenue to increase to $10.55 billion in the first quarter of fiscal 2027, implying an increase of 357% over the year-ago quarter. The exponential bottom-line growth is poised to continue, with earnings per share expected to reach $45.00, up from the year-ago period's $1.22. So, it is easy to see why Sandisk has won back investor confidence once again.
The good news for Sandisk investors is that its growth is likely to remain robust in the second half of 2026. Prices of flash memory surged by an incredible 100% in the first half of 2026, according to market research firm TrendForce. The research firm expects a stronger jump in NAND flash prices in the second half of the year.
Specifically, TrendForce expects a 120% to 170% increase in NAND flash prices in the second half of the year compared with the first half. What's more, TrendForce isn't ruling out a bigger jump in prices in the second half due to tight supply. Importantly, favorable NAND flash pricing is likely to continue in 2027 as well.
Citi expects NAND flash demand to increase by 29% in 2027 and 33% in 2028. The investment bank sees supply increasing by 21% next year and 25% in 2028. Moreover, the supply deficit in NAND flash could widen, with Citi expecting a 6.1% deficit in 2027 and 5.5% in 2028. That's well above this year's anticipated supply deficit of 0.8%.
So, it is easy to see why Sandisk expects a strong spike in earnings per share in the current quarter. The company's strong bottom-line growth momentum is poised to continue in the final quarter of the calendar year, and that could set the stock up for a parabolic jump over the next three months.
The stock could make a big move by the end of 2026
We have already seen that Sandisk is expecting a massive year-over-year increase in earnings per share in the current quarter. Analysts are expecting another big jump of 8.5x in the second quarter of fiscal 2027 (which will coincide with the majority of December 2026) to $52.79 per share. So, Sandisk's earnings in the second half of calendar 2026 are likely to land at $97.79 per share (adding the fiscal Q2 estimate to the company's fiscal Q1 guidance).
That implies a massive increase of almost 13x over Sandisk's earnings per share of $7.55 in the first half of fiscal 2026. Notably, this tech stock is trading at 25 times earnings, well below the tech-laden Nasdaq-100 index's earnings multiple of 35. Ideally, it should be trading at a premium due to its phenomenal growth.
Assuming Sandisk trades in line with the Nasdaq-100 index's multiple by the end of 2026 and its EPS for the next six months alone reaches $97.79, as discussed above, its stock price could jump to $3,422. That's a potential jump of 96%, suggesting that this stock can make a parabolic move by the end of the year.
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Citigroup is an advertising partner of Motley Fool Money. Harsh Chauhan has no position in any of the stocks mentioned. The Motley Fool has no position in any of the stocks mentioned. The Motley Fool has a disclosure policy.
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