SanDisk Stock Matched Bitcoin's 9-Year Run In Just 14 Months - SanDisk (NASDAQ:SNDK)

SanDisk stock surged, matching Bitcoin’s nine-year ascent in just 14 months, after a bounce from a $27.89 April 2025 low to near $2,100 on Monday, a multi-year high. Western Digital rose about 14% to record highs as a broader rally in storage names intensified, with targets raised by Bank of America to $2,100 and by Mizuho and Cantor Fitzgerald into the $2,200–$2,900 range. The stock trades at roughly 10 times the consensus 2027 earnings, underscoring a valuation that has stretched on the back of a sharp earnings trajectory.

Industry dynamics underpin the move, with NAND flash used heavily in AI data centers and a supply shortage supporting prices. SanDisk has secured long-term deals locking in significant revenue—about $42 billion in minimum revenue in the latest quarter and more than $11 billion in guarantees across five agreements. Still, memory is cyclical, and future capacity additions or Chinese competition could temper gains. If demand remains robust for AI, multiple expansion could persist, though risk factors remain.