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Just like Nvidia (NVDA), in terms of AI chips, hogged most of the limelight, leaving the likes of AMD (AMD) in its shadows, the domain of memory chips has seen a similar story play out. With Micron (MU) being the undisputed star, Sandisk's (SNDK) rise has been relatively less celebrated. It should not be.
Shares of the memory chip maker are up a whopping 300% this year, with its market cap now at $140.6 billion. Now, reputed broker Evercore is joining the Sandisk bandwagon as well. The firm, initiating coverage on the stock with an “Overweight” rating, has a price target of $1,200 but has a bull case target of $2,600. That'd be 191% higher than its current price.
