Benchmark Gives Buy Rating on Sandisk (SNDK) Stock
On May 27, Benchmark initiated coverage of Sandisk Corporation (NASDAQ:SNDK)'s stock with a 'Buy' rating and a price target of $58, as reported by The Fly. As per the firm, Sandisk Corporation (NASDAQ:SNDK) happens to be a highly cyclical business, and a cyclical upturn has started.
The firm believes that this upturn is likely to be extended into 2026. Notably, major hyperscale cloud capex is projected to increase 40% YoY in 2025 to reach $330 billion. Furthermore, AI opportunities and a Windows end-of-life replacement cycle continue to fuel higher PC and mobile-related flash sales. The analyst expects non-GAAP earnings to grow to $5.28 per diluted share in FY 2026.
Sandisk Corporation (NASDAQ:SNDK) took actions to reduce supply to match demand and has begun price increases in Q3 2025. The company expects Q4 2025 revenue of between $1.75 billion - $1.85 billion.
Sandisk Corporation (NASDAQ:SNDK) estimates that the NAND industry is well-placed for strong long-term growth. This growth is expected to stem from the exponential expansion of data, fueled mainly due to the deployment of AI in cloud and edge applications.
Sandisk Corporation (NASDAQ:SNDK) is engaged in developing, manufacturing, and selling data storage devices and solutions using NAND flash technology.
While we acknowledge the potential of SNDK to grow, our conviction lies in the belief that some AI stocks hold greater promise for delivering higher returns and have limited downside risk. If you are looking for an AI stock that is more promising than SNDK and that has 100x upside potential, check out our report about this cheapest AI stock.
READ NEXT: 13 Cheap AI Stocks to Buy According to Analysts and 11 Unstoppable Growth Stocks to Invest in Now
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