SanDisk Corp. (NASDAQ:SNDK) began life as a public company as an afterthought, a storage spinoff few investors wanted.

Sixteen months later it is one of the market’s most explosive momentum trades and the analysts covering it keep raising the bar.

The stock is up over 5,000% since it split from Western Digital Corp. in February 2025. It added about 8% Thursday to roughly $1,818.

A $10,000 stake at the spinoff would be worth more than $500,000 today. That’s not a typo.

Despite the explosive rally, Bank of America Corp. is not calling the top. This week the bank’s analyst Wamsi Mohan reiterated a Buy rating and lifted its price objective from $1,550 to $2,100.

This means he sees another nearly 20% surge from the current levels.

This Analyst Raised SNDK Stock Target After A 50-Fold Run

The case rests on memory pricing.

SanDisk makes NAND flash, the storage that holds data inside phones, laptops and the vast solid-state drives packed into artificial-intelligence data centers.

Demand for that storage is outrunning supply. Mohan expects prices to keep climbing through 2026 and into the first half of 2027, with meaningful new industry capacity unlikely before 2028 or 2029.

The result is an earnings explosion.

Bank of America now models fiscal 2027 revenue of $44 billion and earnings of about $188 a share, up from prior estimates of $37.7 billion ...