Sandisk has room to run on a newer swath of long-term agreements that offer more robust protections for memory providers, adding even more fuel to its stunning rally in 2026, according to Bernstein. The investment firm has an outperform rating on the memory name. It hiked its price target on shares to $3,000 from $1,700, implying 46% upside from Monday’s close. “The way old [long-term agreements] were written, particularly in memory, was extremely lopsided in favor of the customer, but these New Memory LTAs have three key differences: prices fixed or range bound; upfront financial commitments to lock-in customers and protect downside; and long contract terms (3-5 years),” analyst Mark Newman said Tuesday in a note to clients. “While these LTA’s do not completely remove risk of future downcycles, they do significantly alleviate downside risk,” the analyst added. Shares of Sandisk have surged 764% in the year to date as rising AI adoption has increased orders for semiconductor hardware that powers the emerging technology, leading to a memory chip shortage. SNDK YTD mountain SNDK year to date Bernstein predicts that Sandisk will hit earnings of $214 per share by fiscal year 2030 due to its long-term agreements. That’s compared to what could have been earnings of $81 per share without those LTAs, per the investment firm. Bernstein’s call falls in line with Wall Street. Of the 24 analysts that cover Sandisk, 21 have a buy or strong buy on the stock, LSEG data shows.
This stock has seen 8x growth in 2026. Bernstein sees more gains ahead
