Sandisk could see its shares climb well above $2,000 as its memory hardware becomes increasingly vital to AI models, Rosenblatt reports. The firm initiated coverage with a buy rating and set a $2,400 price target, indicating roughly 36% upside from Monday’s close. “New AI compute platforms are creating an opportunity to elevate NAND flash from a commodity storage product to a core component of AI infrastructure,” said analyst Kevin Cassidy in a client note Monday. NAND flash retains data without power and is used in consumer electronics and enterprise systems, including generative AI workloads. Sandisk’s stock has risen about 644% year‑to‑date, driven by surging demand for NAND amid the boom in next‑generation AI models. Historically, NAND demand has been shaped by cost‑cutting pressures in smartphones and PCs, Rosenblatt notes. However, in AI environments, larger models and data‑intensive inference prioritize density, performance, endurance, and supply security over absolute price, Cassidy explained. He added that Sandisk’s advantage lies in its 3D NAND flash technologies BiCS8 and BiCS10, which pack many bits into a small silicon footprint without expanding production space. “We believe this can support a favorable bit‑cost curve and maintain a performance‑and‑cost edge in AI‑focused enterprise storage,” Cassidy said in his note. Rosenblatt’s view aligns with broader Wall Street consensus: of the 28 analysts tracking Sandisk, 24 rate the stock as a buy or strong buy, according to LSEG data.
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