Why Sandisk stock plunged today and analysts still say buy
SanDisk (SNDK) stock plunged on Monday, July 13, 2026, as a broad semiconductor selloff pulled chip shares lower. Yet several Wall Street analysts still call SNDK stock a buy-the-dip opportunity, lifting price targets to levels far above the current price on AI-driven NAND demand and long-term supply contracts.
Shares of the memory chipmaker sank alongside a wider pullback in semiconductor names, even as the stock remains one of the S&P 500's top performers in 2026. The split between a falling tape and rising analyst targets has left investors asking whether the sell-off reflects real business weakness—or short-term volatility in a transformed storage story.
Key Takeaways
- SNDK stock fell sharply on July 13 as chip stocks broadly retreated, extending a pullback from recent highs.
- Goldman Sachs raised its price target to $2,200 from $1,200; Evercore more than doubled its target to $3,100 from $1,400.
- Analysts cite AI data-center demand, tight NAND supply, and multiyear supply agreements worth roughly $42 billion in minimum revenue.
- Seeking Alpha notes data center revenue surged more than 230% sequentially as enterprise SSD demand accelerates.
- Upcoming fiscal fourth-quarter earnings and management commentary on long-term agreements are the next major catalysts.
Why Did SNDK Stock Fall So Sharply Today?
SanDisk shares dropped on Monday as semiconductor stocks sold off across the board. Reporting from The Motley Fool noted the decline came amid elevated volatility across the chip sector, not a single company-specific shock.
The stock had already pulled back from its June peak, giving up a double-digit percentage of its year-to-date gains. Even so, SanDisk remains up more than 600% since the start of 2026—making it among the index's best performers before this correction.
Why Are Analysts Raising Price Targets While the Stock Drops?
Wall Street's bullish revisions center on fundamentals, not momentum. Goldman Sachs analyst James Schneider lifted his target to $2,200 and kept a Buy rating, projecting adjusted 2026 earnings nearly 30% above consensus, driven by surging orders from large cloud providers.
Evercore ISI analyst Amit Daryanani raised his target to $3,100 from $1,400—more than doubling it, as Barron's reported. He argued investors are underappreciating the durability of SanDisk's earnings and pricing power through 2027. Bernstein lifted its target to $3,000, while Citigroup reaffirmed a $2,500 target.
Is SanDisk's Business Model Really Changing?
Seeking Alpha highlights what bulls call SanDisk's biggest transformation: a pivot from cyclical NAND supplier to AI infrastructure play. Five multiyear supply agreements secure approximately $42 billion in minimum revenue, backed by more than $11 billion in financial guarantees—improving earnings visibility.
Data center revenue jumped more than 230% sequentially, fueled by AI inference, KV cache workloads, and enterprise SSD demand. The company's BiCS10 NAND technology delivers 59% higher bit density, with production already underway. Like the layered evidence in a complex case, the market narrative around SNDK stock is shifting faster than the price chart suggests—similar to how our true crime and unsolved mysteries coverage unpacks stories piece by piece.
What Should Investors Watch Next?
Analysts expect SanDisk's fiscal fourth-quarter results, due in August, to test whether the company can deliver on elevated expectations. Goldman Sachs anticipates a very strong quarter, with investor focus on long-term agreement updates and NAND pricing trends.
Risks remain. SanDisk trades at a premium multiple versus peers like Micron, and any reversal in supply-demand balance could challenge that valuation. For now, the analyst consensus treats Monday's plunge as a buying opportunity—not a verdict on the underlying business.