Wall Street’s next blockbuster stock split is here — the stock has gained 3,050% since its 2025 debut and even more upside to come, according to Wall Street

Recent advances in artificial intelligence (AI) have changed the technology landscape, creating a string of winning stocks along the way. One of them is Sandisk (SNDK -13.47%). It’s been less than a year since she came from Western digital early 2025. Shortly after its debut, Sandisk became a Wall Street darling as it supplies memory chips used to support AI.

The company’s impressive business performance has fueled a rise in its stock price. Sandisk shares have surged 378% so far in 2026 (as of this writing), and are up 4,553% over the past year and 3,050% since its split.

Along with its financial report for the first quarter of fiscal 2027, Sandisk announced plans to split its shares for the first time since its debut. This long-rumored announcement sparked a wave of interest in the semiconductor stock.

Let’s take a look at the details, the company’s recent results, and why Wall Street thinks there’s still upside potential ahead.

Image source: The Motley Fool.

The details

After the market closed Thursday, Sandisk announced that its board of directors had approved an 8-for-1 stock split. “The stock split will be effected through an amendment to Sandisk’s amended and restated certificate of incorporation,” the company said in its earnings report.

Shareholders of record as of Monday, November 9, 2026 will receive seven additional shares for each share they own. These shares will be distributed after close of business on Thursday, November 19. Shares are expected to begin trading on a split basis when the market opens on Friday, November 20.

As is generally the case, shareholders will not need to take any action to participate in the stock split. The brokerage or investment bank will handle the details behind the scenes and the shares will be deposited directly into investors’ brokerage accounts once the stock split takes effect.

The process is complex, so additional shares may not appear immediately after the market closes on November 19. Timing may vary slightly between brokerages, and it may take several days for newly issued shares to appear.

Actual numbers help provide context. For every Sandisk share an investor owns – currently trading at around $1,200 per share (at the time of this writing) – after the split, shareholders will own 8 shares worth $150 each.

What explains these gains?

Sandisk’s financial results illustrate the growing demand for its memory chips. For its first fiscal quarter 2027 (ended October 2), the company generated revenue of $11 billion, up 378% year-over-year and 23% quarter-over-quarter. This generated adjusted earnings per share (EPS) that increased more than 40 times to $49.51.

As a reminder, analyst consensus estimates called for revenue of $10.7 billion and adjusted EPS of $46.67, so the company easily overcame both of these hurdles.

Management’s comment was equally telling. CEO David Goeckeler said: “Our customers tell us they underestimated the amount of NAND they need to run their infrastructure. » He went on to say that several customers have revised their contracts to increase the quantity of supply. CFO Luis Visoso went further, noting that “our pipeline (in memory) exceeds our supply throughout the end of the decade.”

Investors have expressed concerns about the sustainability of demand for AI and the emerging potential for competition from China, but Sandisk has taken steps to ensure this boon continues. The company has moved to long-term supply agreements with its major customers, locking them in at minimum prices, with the average contract length being four years or more.

Is Sandisk Stock a Buy?

Wall Street is optimistic about Sandisk’s future prospects. Of the 25 analysts who issued an opinion in October, 84% rate it as a buy or strong buy. Additionally, Wall Street’s average price target for the stock is around $2,143, implying an additional 85% upside.

Ben Reitzes, an analyst at Melius Research, is far more bullish than its Wall Street colleagues, with a Buy rating and a price target of $3,600 – the highest on Wall Street – suggesting the stock could triple from there.

He cites strong demand for high-bandwidth flash, firm NAND pricing, and strong free cash flow as the basis for his bullish thesis. Reitzes estimates Sandisk can repurchase up to $100 billion in stock over the next three years.

The stock has fallen more than 50% from its peak in late June, fueled by concerns about the resilience of AI demand and the potential for emerging competition from China. However, Sandisk now trades at less than 16 times earnings and 5 times forward earnings.

For investors who believe, as I do, that this is just the beginning for AI, Sandisk stock makes a worthwhile buy.