Sandisk Stock Jumps 7% as Goldman Sachs Sees More Upside Ahead of Earnings

• Sandisk stock rose nearly 7% after Goldman Sachs reaffirmed its Buy rating ahead of quarterly earnings
• The bank expects tight NAND supply and improving pricing to drive stronger results and guidance
• Despite the rebound, Wall Street still sees additional upside, with the consensus target implying roughly 18% gains over the next year and Goldman Sachs targeting $2,200

Just last week, Sandisk stock was sliding despite the company’s biggest NAND technology announcement in years. This week, the mood has shifted. Shares rebounded nearly 7% ahead of Sandisk earnings, with Wall Street turning its attention back to pricing trends and the memory market instead of the bigger semiconductor selloff. The recovery comes as analysts argue the recent pullback may have overlooked the company’s improving fundamentals.

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Why Sandisk Stock Could Still Have More Room to Recover

Sandisk stock closed up nearly 6.8% on Wednesday after Goldman Sachs reiterated its Buy rating. It also raised expectations ahead of the company’s fiscal fourth-quarter results.

Goldman analyst James Schneider said continued tightness in the NAND memory market should support stronger pricing. This would help Sandisk deliver better-than-expected quarterly results and guidance. He also pointed to encouraging customer activity following Micron’s recent earnings, prompting the bank to raise its forecasts.

Goldman Sachs now maintains a SNDK stock forecast of $2,200, implying roughly 27% upside from current levels. According to TipRanks, the broader analyst community remains bullish as well, with a Strong Buy consensus and an average price target of about $2,042. This points to around 18% upside over the next year.

Despite Wednesday’s rally, Sandisk stock is still trading roughly 26% below the record highs it reached only two weeks ago. This leaves no room for further gains, even if the company delivers a strong earnings report.

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Improving NAND Demand Remains the Bigger Story

Goldman Sachs believes investors will be watching more than just quarterly numbers when Sandisk earnings arrive. Long-term supply agreements, NAND pricing trends, and management’s outlook for 2026 are all expected to play a key role in how the market reacts.

Those expectations also build on developments Sandisk shared only days ago. Last week, the company introduced its BiCS10 3D NAND platform. It featured a 332-layer architecture, up to 59% higher bit density than the previous generation, interface speeds of up to 4.8Gb/s, and lower power consumption for AI and enterprise workloads.

Although that announcement failed to lift the stock at the time, analysts believe it strengthens Sandisk’s long-term position as demand for AI infrastructure continues to expand. TrendForce expects enterprise SSD demand to remain supported by AI servers and hyperscale data centers. Meanwhile, Gartner has projected continued growth in AI infrastructure spending. This could benefit NAND manufacturers over the coming years.

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