SNDK stock: after a 2,000% surge, where could it be in 2028?
SNDK stock remains up more than 2,300% over the past year despite a sharp July selloff, according to Motley Fool analysis on Yahoo Finance. History-based earnings math puts a possible fiscal-2028 price near $5,110 if Sandisk hits about $255.63 in EPS and trades at 20 times earnings—nearly 5x recent levels after a roughly 51% monthly drop.
Key Takeaways
- SNDK stock is still up over 2,300% over the past year even after a brutal July pullback.
- AI data-center servers are expected to account for 44% of NAND flash demand in 2026 and 51% in 2027, per TrendForce.
- One Motley Fool scenario maps fiscal-2028 EPS of $255.63 and a 20x multiple to about $5,110 a share.
- Barron’s notes Sandisk sank about 54% in July yet was still up roughly 2,000% for the year as the S&P 500’s biggest monthly loser.
- Seeking Alpha reported a third straight double-digit daily decline, including a roughly 14% Tuesday drop.
Why has SNDK stock moved so violently lately?
Shares of Sandisk (NASDAQ: SNDK) have been under intense pressure in July after an extraordinary AI-memory rally. Barron’s reported the stock sank about 54% in the month and ranked as the S&P 500’s biggest loser—while still being up roughly 2,000% over the prior year.
Seeking Alpha separately flagged a third consecutive double-digit percentage slide, with SNDK stock falling about 14% on Tuesday after roughly 11% drops in each of the prior two sessions. That kind of air pocket matters because it shows how quickly crowded AI-memory trades can reverse even when the longer-term chart still looks exceptional.
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Where could SNDK stock be in 2028?
According to a Yahoo Finance report based on Motley Fool analysis, Sandisk remains one of the market’s top one-year performers with gains of over 2,300% as of the writing, even while shares were under pressure.
Analysts expect EPS to rise about 20% in fiscal 2028 (ending June 2028), after a projected 219% jump in the ongoing fiscal year. The same piece assumes earnings reach $255.63 by the end of fiscal 2028. At a 20 times earnings multiple—below the Nasdaq-100 forward multiple of 25 cited there—the implied price is just over $5,110, or nearly five times recent levels after a roughly 51% decline over the prior month.
Is the NAND flash shortage still supporting the bull case?
The rally has been driven by NAND flash prices rising as demand outpaced supply. TrendForce expects AI data-center servers to account for 44% of overall NAND flash demand in 2026 and 51% in 2027. Gartner projects a 234% increase in NAND flash prices this year, with demand expected to exceed supply by 4% to 5% in 2026.
New NAND capacity typically takes 18 to 24 months or longer to add. Sandisk is also striking long-term agreements with variable pricing, which Motley Fool argues can help it capture further memory-price gains. That said, July’s collapse shows valuation, competition fears, and sector sentiment can overwhelm the thesis in the short run.