SanDisk (SNDK) Stock Soars to Record High After Nvidia CEO’s Bullish Comments on Flash Memory Demand

Flash memory just got a turbocharge from the AI revolution's front lines.

The Catalyst

Nvidia's CEO didn't just hint at growth—he painted a future where data hunger is insatiable. His comments on soaring demand for high-performance storage sent a shockwave through the sector, with SanDisk riding the crest. The market reacted instantly, bypassing cautious analyst forecasts and propelling SNDK shares straight through previous resistance levels.

Behind the Surge

It's a simple equation: advanced AI and data centers don't run on goodwill. They devour faster, denser, more reliable NAND flash. SanDisk's positioning in that supply chain isn't just good—it's suddenly critical. The stock's move reflects a wholesale re-rating, a bet that memory isn't a commodity play anymore, but a strategic one.

What's Next?

This isn't just a one-day headline pop. It signals a fundamental shift in how infrastructure components are valued in the age of intelligent computing. The rally cuts through the typical market noise, focusing purely on technological necessity. Of course, Wall Street will soon enough try to slice this narrative into quarterly EPS estimates—because why understand a paradigm shift when you can just model it?

The flash memory giant isn't just keeping up; it's powering the very engines of tomorrow's tech landscape. Bet against that demand at your own peril.

TLDR

• SanDisk stock jumped 27.5% on Tuesday, reaching a new all-time high near $350 after Nvidia CEO Jensen Huang highlighted the critical need for data storage in AI systems at CES 2026
• The entire memory sector rallied, with Western Digital up 16.8%, Micron climbing 10%, and Seagate gaining 14%
• NAND flash memory prices are projected to rise 30% to 35% in Q1 2026, according to Morgan Stanley
• SanDisk has surged over 1,080% since its April 2025 low and is up more than 40% in the first three trading days of 2026
• Wall Street maintains a Strong Buy rating with 11 Buy ratings and three Holds

SanDisk stock rocketed to an all-time high on Tuesday, climbing to nearly $350 after a 27.5% single-day surge. The flash memory and storage company extended gains in after-hours trading, adding more than 2%.

Sandisk Corporation, SNDK

The rally came after Nvidia CEO Jensen Huang spoke at CES 2026 on Monday. Huang described the data storage market as “completely unserved” and predicted it could become the largest storage market in the world.

“This is a market that never existed, and this market will likely be the largest storage market in the world, basically holding the working memory of the world’s AIs,” Huang told analysts at the conference.

The comments triggered a sector-wide rally across data storage stocks. Western Digital shares ROSE 16.8%, while Micron climbed 10%. Seagate Technology Holdings gained nearly 14%.

SanDisk designs and manufactures flash memory and storage solutions for consumer electronics, data centers, and enterprise applications. The company became independent in February 2025 after Western Digital spun off its flash storage business.

Memory Prices Set to Jump

The rally builds on existing momentum in the memory sector. Morgan Stanley projects NAND flash memory prices will rise 30% to 35% in the first quarter of 2026.

NAND flash serves as a key component for long-term data storage. It forms the Core of SanDisk’s product portfolio.

Earlier this week, Korea Economic Daily reported Samsung Electronics and SK Hynix were seeking 60% to 70% price increases for server DRAM in Q1 compared to Q4 2024. The tight supply and surging demand stem from AI training and inferencing needs.

Bloomberg Intelligence analyst Jake Silverman noted Huang’s CES comments “suggest that demand for NAND storage will remain robust across Nvidia systems.” He pointed to tight supply and a surge in memory pricing as key factors boosting digital storage stocks.

Banking on AI Infrastructure

Bank of America analysts led by Wamsi Mohan identified SanDisk and other memory companies as “key beneficiaries” of the push for AI inferencing and edge computing in 2026. The firm expects organizations to retain more data for training, analytics, and compliance purposes.

Storage demand is “skyrocketing in tandem” with growing use in drones, surveillance, vehicles, and sports technology, Mohan wrote in a January 4 note. He expects AI inference to dominate the hardware spending cycle in 2026 and beyond.

The stock has delivered exceptional returns since going public. SanDisk surged more than 500% in 2025, making it one of the top performers in the S&P 500.

Wall Street’s View

The momentum shows no signs of stopping in 2026. SanDisk shares are already up over 40% year to date after just three trading sessions.

The stock has soared more than 1,080% since hitting a low on April 22, 2025. Tuesday marked its best single-day performance since February 2025.

The recent rally has pushed SanDisk above its average price target of $259.83. The current trading level implies roughly 26% downside from analyst targets, though the stock continues to defy expectations.