What the analyst said
Mizuho analyst Vijay Rakesh reiterated an Outperform rating and $2,050 price target on SanDisk (NASDAQ: SNDK).
“We take a deeper look at Enterprise SSD and NAND markets ahead of SNDK’s SepQ earnings. Key points: 1) NAND pricing to remain solid through 2027E as NAND capacity remains mostly flat (Ex-China),
2) Mix could shift to SLC NAND, shifting into 2027E as Kioxia XL-Flash looks to bring low-latency/high performance to NAND, driving significant NAND tightness in 2027E,
3) Major eSSD ramp with META, GOOGL, and OCI KV cache and AI SSDs accelerating into 2027/28E, and
4) NBMs driving LT visibility with 8 DC/edge AI customers with ~$94B minimum revenue floor, 1/2 bits on NBMs through F27E and 2/3 into F28E.
Reiterate SNDK as Outperform, $2,050PT as we would be buyers on the pullback with NAND demand accelerating driven by KV Cache, Agentic AI, while supply remains contained.”
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Where the price stands
SNDK trades at $1,002.
Since the note SNDK has moved −27% (from $1,365). 12-month window: day 21 of 365, closes on October 21, 2027.