SanDisk Corp has become one of the most dramatic winners of the AI trade, with the stock up more than 3,400% in one year as investors bet on rising demand for flash memory used in data centres and AI inference workloads. The stock has gained 628.74% so far this year, which makes it the best-performing stock in the S&P 500 in 2026, ahead of Dell Technologies, which is up nearly 300%. Over one year, SanDisk has returned 3,415%, while its three-year gain stands at 4,580%.
According to a report on TheStreet, JPMorgan has reinstated coverage on SanDisk with an Overweight rating and a price target of $2,250 on August 16. JPMorgan’s bullish view rests on three broad points: SanDisk’s role in the global NAND flash market, rising AI-led demand for enterprise data centre storage, and a new business model that gives the company more earnings visibility.
