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Investing.com --SanDisk Corporation (NASDAQ:SNDK)shares got a Street-high price target from Bernstein, which said tight NAND supply and sharp price increases make the memory maker a top beneficiary of AI-driven data growth in 2026.
Bernstein raised its price target onSanDiskto $580 and named the stock a top pick for 2026, citing unprecedented NAND shortages and pricing. It is based on 11x fiscal 2027 EPS estimate of $52.66. Shares were down 1.2% on early Wed. trading at $385.13.
Accelerating demand from AI training and inference workloads is driving a data explosion that continues to lift memory and storage consumption, with no signs of slowing next year.Richer content creation and longer data retention needs are pushing storage demand higher and making customers less sensitive to price increases.
Bernstein said memory and hard disk drive suppliers are key winners in this environment, describing the current cycle as a memory and storage supercycle.Nvidia’s disclosure around expanded key value cache requirements is another catalyst for NAND demand, which could lift NAND terabytes per GPU by as much as five times.
Supply-demand imbalance is driving estimate upgrades and near-term upside for SanDisk. Bernstein says the company has the most upside among storage names in the short term as NAND prices reset higher.Though original equipment manufacturers or OEMs face margin pressure from rising memory costs.Bernstein estimated the biggest EPS downside risk at HP and Super Micro Computer, with smaller impacts at Dell and Hewlett Packard Enterprise.Apple was seen as relatively insulated in the near term due to long-term supply agreements, though Bernstein said higher component costs could eventually pressure pricing and unit growth.
Bernstein callsSeagate Technologya less volatile way to play the data expansion through hard drives, supported by its technology leadership in HAMR. It target is set at $370.
