Sandisk Announces 8-for-1 Stock Split Amid AI-Driven Memory Chip Demand
Sandisk (SNDK) has announced an 8-for-1 stock split, effective November 19, following significant share price appreciation driven by the artificial intelligence boom. The company has benefited immensely from a global memory chip supply shortage, which has pushed NAND prices up 160% over the last two years. This demand surge contributed to a massive 378% revenue increase to $11 billion in the first quarter of fiscal 2027. Wall Street analysts remain highly optimistic about the company's trajectory. While historical data suggests stocks often see robust returns following split announcements, specific analysts like Ben Reitzes of Melius Research have set aggressive price targets as high as $3,600 per share. Despite concerns that current pricing power is tied to temporary supply shortages rather than permanent competitive advantages, Sandisk has secured long-term supply agreements covering much of its 2028 production.
Tickers: $SNDK