Prediction: This Is What Sandisk Stock Will Be Worth in 12 Months

Sandisk (NASDAQ:SNDK) stock has been on a tear over the past year, with shares of the company rising by an incredible 2,400% during this period, as of this writing.

The semiconductor stock's stunning rise is justified by its phenomenal growth. The NAND flash storage products that the company manufactures are in terrific demand from artificial intelligence (AI) data centers, a trend that's likely to continue over the coming year. In fact, I won't be surprised to see Sandisk stock jumping significantly higher over the next 12 months.

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Let's see where this high-flying AI stock could be after a year.

Sandisk stock is headed higher, according to Wall Street

Wall Street believes that Sandisk still has room to jump higher. This is evident from the stock's 12-month median price target of $2,200, which suggests potential upside of 26% from current levels. What's worth noting is that 25 of the 31 analysts covering Sandisk suggest buying the stock.

However, I think that Wall Street is underestimating Sandisk's upside potential. The NAND flash market that Sandisk serves is poised to keep growing next year. Market research firm TrendForce sees the NAND flash industry's revenue rising almost fourfold in 2026 to $271 billion from $71 billion last year. It anticipates another 40% increase in the NAND flash industry's revenue in 2027 to $379.4 billion.

Not surprisingly, Sandisk is confident of maintaining its phenomenal growth rate in fiscal 2027. The company released its fiscal Q4 2026 results (for the year ended July 3) on Aug. 5. Its quarterly revenue surged 372% year over year to $8.96 billion. What's more, the supply constrained environment in the NAND flash market led to an eye-popping 135x year-over-year increase in non-GAAP earnings per share to $39.25.

The company expects $10.3-$10.8 billion in revenue for the current quarter. That points to a potential year-over-year revenue increase of 357% at the midpoint. Meanwhile, the $45.00 earnings-per-share estimate for the current quarter suggests a potential 37x year-over-year jump in its bottom line. The guidance suggests that Sandisk's exponential growth is here to stay.

This also explains why analysts have increased their revenue and earnings per share forecasts for the current fiscal year.