Sandisk Stock Is Up 160% in 2026. Is There Room Left for It to Run?

Sandisk (SNDK) leads the list of best-performing information technology stocks so far this year. It is up 160% despite the ongoing correction that has seen the stock fall 21% from its all-time highs in a matter of days. By now, most have figured out why memory stocks are going up. Supply is tight, and companies can raise prices without scaring off customers. This improves margins, driving profitability and improved valuation.

Things were looking good until an announcement from Google (GOOG) (GOOGL) caused memory stocks to crash. The search engine giant announced a new algorithm called TurboQuant. It reduces memory usage by six times, reducing the need for large amounts of DRAM and NAND memory in AI workloads. Markets were previously working on the assumption that massive demand for AI would proportionally result in a similar demand for memory. That may not be the case anymore, and that is why investors need to consider investing in stocks like Sandisk carefully, especially when they’ve run up over 1100% in a year!