Can Sandisk extend its historic AI-driven rally?

Sandisk, the US-listed storage and memory major, has been the top performer in the S&P 500 during the first half of 2026 with shares up around 800 percent year-to-date, driven by surging demand for NAND flash memory in AI data centres and tight industry supply. Bernstein has raised its price target to about 3,000 dollars citing stronger long-term earnings potential and improved revenue visibility from multi-year customer agreements. Despite a recent pullback on AI semiconductor profit-booking, analysts remain constructive, expecting constrained NAND supply through 2027 to support pricing and profitability.