SanDisk (SNDK) stock rose on Friday as Intel’s (INTC) strong first-quarter earnings and optimistic future guidance boosted the entire semiconductor and storage sector.
Even after the rise, SNDK’s Relative Strength Index (RSI) hovers around just 68, indicating that the stock has not yet fallen into overbought territory.
SanDisk stock has been nothing short of a blockbuster investment in 2026, currently up more than 250% from the start of this year.
Intel’s first-quarter earnings release provided a significant read on SNDK stock as it highlighted massive 22% year-over-year growth in the company’s data center and artificial intelligence (DCAI) business.
This confirms that hyperscalers are aggressively expanding AI infrastructure, directly benefiting SanDisk’s enterprise SSD and NAND storage solutions.
Intel CEO Lip-Bu Tan’s comment on the next wave of AI moving toward edge inference signals a long cycle of demand for high-density storage.
As Intel ramps up its Xeon 6 processor deployments, it creates a symbiotic carryover effect for SNDK’s premium memory products, validating the stock’s April 24 advance.
Despite a meteoric run so far this year in SanDisk stock, options traders remain convinced it’s not out of steam yet.
According to Barchart, the put-call ratio for contracts expiring in early May currently stands at 0.11x, indicating a strong bullish bias, and the price premium suggests a continued rise to approximately $1,166.
Interestingly, SNDK is scheduled to report its quarterly earnings on April 30. Therefore, the aforementioned data suggests that the derivatives market expects these AI stocks to trade more than 17% higher from now on after earnings.
And for good reason too; The consensus is for SanDisk to earn $13.40 per share in its third quarter, an exceptional increase from a loss of $0.60 per share in the same quarter last year.
Wall Street analysts also remain bullish as ever on SanDisk for the remainder of 2026.
According to Barchart, the consensus rating on SNDK stock currently stands at “Strong Buy,” with price targets as high as $1,800, indicating potential upside of a notable 80% from here.