SanDisk (SNDK) Stock Surges 12% as S&P 100 Inclusion Adds New Fuel
TLDR
- SNDK stock jumped 11.9% after news it will join the S&P 100 on September 21
- SanDisk has 10 long-term supply agreements with eight customers, covering more than half of its flash memory shipments in fiscal 2027
- The contracts carry a minimum revenue floor of $93.9 billion across their lifetimes
- Customers have put up $16.5 billion in financial guarantees in case they walk away
- SNDK is up 633% year-to-date and trades at around 8x expected fiscal 2027 earnings
SanDisk stock surged 11.9% on Friday, September 5, pushing the price to $1,740. The catalyst was news that SNDK will be added to the S&P 100 before the market opens on September 21.
The stock is up 633% year-to-date, riding the AI infrastructure boom. Despite that run, SNDK still sits more than 25% below its 52-week high of $2,354.39. The 52-week low is $67.86.
At current prices, the stock trades at roughly 8 times expected fiscal 2027 earnings. That valuation suggests the market is pricing in a meaningful drop in earnings going forward.
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