SanDisk shares explode as AI‑driven storage demand fuels 4,400% surge

SanDisk (NASDAQ:SNDK) stock has surged roughly 4,440% over the past year, climbing from the $36‑$52 range to about $1,694 per share. The rally is driven by booming demand for AI‑focused data‑center storage, with the company reporting fiscal Q3 revenue of $5.95 billion—a 251% year‑over‑year increase—and non‑GAAP earnings per share of $23.41, far above analysts’ expectations.

Investors have been adding to positions amid the surge. Mawer Investment Management Ltd. bought 42,908 shares worth about $10.2 million in the fourth quarter, while other funds such as Whittier Trust Co., Chung Wu Investment Group, Westfuller Advisors, TD Private Client Wealth and Torren Management also increased holdings, collectively investing tens of millions of dollars in SanDisk equity.