SanDisk (NASDAQ: SNDK) has surged nearly 32% in the last five trading sessions, making it among the most bullish stocks in the US markets. An investment of $1,000 at the start of May has turned into $1,300+ on Wednesday. The memory maker is now among the most sought-after equities, as it plays an important role in supporting the larger AI industry.
SNDK went from $1,070 to a high of $1,406 in five days and exceeded all expectations. It achieved what bigger tech giants failed to do, despite having a robust AI capex mechanism. Even those who took an entry position just a year ago have also seen their portfolio grow by more than 1,000%. While many exited the SNDK taking profits, others are still holding on to the long term.
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Bernstein’s Senior Market Analyst Mark Newmangave SanDisk stock a buy rating in early May. He also offered a bullish price prediction projecting SNDK to reach a high of $1,700 next. He wrote in a note that the leading memory equity has optimistic guidance as recent revenues reached $5.95 billion. It beat all market expectations, as the ever-evolving AI sector could push prices much higher.
According to Bernstein’s Mark Newman, SanDisk stock could reach a high of $1,700 in the next 12 months. Therefore, SNDK is expected to surge by another 22% in a year and deliver double-digit returns. An investment of $1,000 could turn into $1,200+ during Q2 of 2027, if the forecast turns out to be accurate. Wall Street analysts expect the company to have strong revenue in the next earnings call.
Apart from SanDisk,Micron stock is also expected to surge in valueas it provides high-bandwidth memory to tech firms deploying their AI models. Both companies have a similar business model and have risen by nearly 70% in a month.
Source: Watcher Guru
