SanDisk (SNDK) shares pushed higher on Friday as Intel’s (INTC) strong Q1 earnings and upbeat future guidance buoyed the entire semiconductor and storage sector.
Even after the surge, SNDK’s relative strength index (RSI) is hovering around 68 only, indicating the stock still hasn’t slipped into overbought territory.
SanDisk stock has been nothing short of a blockbuster investment in 2026, currently up more than 250% versus the start of this year.
Significance of Intel’s Q1 Earnings for SanDisk Stock
Intel’s Q1 earnings release provided a significant read-through for SNDK shares as it highlighted a massive 22% year-over-year growth in the firm’s data center and AI (DCAI) business.
This confirms that hyperscalers are aggressively expanding AI infrastructure, which directly benefits SanDisk’s enterprise SSD and NAND storage solutions.
Intel CEO Lip-Bu Tan’s commentary on the next wave of AI moving toward edge inference signals a prolonged demand cycle for high-density storage.
As Intel ramps up its Xeon 6 processor deployments, it creates a symbiotic pull-through effect for SNDK’s premium memory products, validating the stock’s advance on April 24.
Where Options Data Suggests SNDK Shares Are Headed
Despite a meteoric year-to-date run in SanDisk shares, options traders remain convinced they aren’t out of juice just yet.
According to Barchart, the put-to-call ratio on contracts expiring early May sits at 0.11x currently, indicating a strong bullish skew, with the upper price suggesting continued upside to about $1,166.
Interestingly, SNDK is scheduled to report its quarterly earnings on April 30. The aforementioned data, therefore, suggests the derivatives market expects this AI stock to be trading over 17% higher from here after earnings.
And for good reason too; consensus is for SanDisk to earn $13.40 a share in its Q3, an exceptional increase from a loss of $0.60 per share in the same quarter last year.
How Wall Street Recommends Playing SanDisk
Wall Street analysts also remain bullish as ever on SanDisk for the remainder of 2026.
According to Barchart, the consensus rating on SNDK stock sits at “Strong Buy” currently, with price targets as high as $1,800, indicating potential upside of a remarkable 80% from here.
On the date of publication, Wajeeh Khan did not have (either directly or indirectly) positions in any of the securities mentioned in this article. All information and data in this article is solely for informational purposes. For more information please view the Barchart Disclosure Policy here.
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