Sandisk stock has fallen 45% from its 52-week high, but the company's latest results suggest the decline is a buying opportunity. The memory specialist reported a 175% year-over-year revenue increase to $20.2 billion in fiscal 2026, with adjusted earnings per share jumping nearly 24 times to $70.88. Sandisk guided for $10.3 billion to $10.8 billion in current-quarter revenue and non-GAAP earnings per share of $45.00, and it has signed multi-year supply agreements with eight data center customers expected to generate at least $94 billion in revenue. Analysts expect revenue to jump 141% to almost $49 billion in fiscal 2027, with earnings tripling to $213.23 per share, and the stock carries a 12-month median price target of $2,150, implying 69% upside.
