Sandisk surges 16% ahead of 8-for-1 split

Sandisk shares gained just over 16% on Wednesday, November 11, 2026, trading at $1,001.66 in midday U.S. trading. The rally occurred amid broad strength in memory and hardware stocks, with AI-related buying interest returning to the storage sector. The move came ahead of an 8-for-1 forward stock split scheduled to take effect on November 19, which will reduce the per-share trading price without changing the company’s overall value.

Despite the single-session jump, Sandisk’s stock remains sharply lower over the past month. Shares were down roughly 41% over the past month and trading well below their 50-day and 200-day moving averages. The latest rebound partially offsets that weakness but does not erase the recent volatility.

Investor focus has returned to Sandisk’s role in AI-related storage infrastructure. The latest stock surge coincided with results from CoreWeave (CRWV) that helped revive interest in AI-exposed memory and storage names. AI-related buying was a key factor behind renewed interest in Sandisk and other hardware stocks.

Sandisk’s recent fundamentals have been strong. The company’s fiscal first quarter delivered revenue of $11.0 billion, an increase of 378% year over year. GAAP gross margin reached 85.0%, placing profitability at the center of the latest investor focus as AI storage buyers returned. These figures underpin the market’s attention to Sandisk despite recent share price volatility.

Data center customers are a major driver of Sandisk’s business. In the fiscal first quarter, data center revenue climbed to $4.8 billion, up 61% sequentially. Data center sales now account for roughly 44% of total revenue, tying Sandisk’s performance more closely to hyperscaler and large cloud spending plans.

For its fiscal second quarter, Sandisk has guided to revenue between $12.2 billion and $12.6 billion. At the midpoint of that range, the guidance implies about 12% sequential growth. The company also projected non-GAAP EPS of $55 to $57 on a pre-split basis, setting expectations for continued earnings strength as AI-related storage demand persists.

The upcoming 8-for-1 stock split is a notable near-term event for shareholders. The split will increase the number of Sandisk shares outstanding and lower the price per share, while leaving the company’s total market value unchanged. The fiscal second-quarter print will be the real test of whether Sandisk can sustain its growth and margins.

While the current rally highlights renewed confidence, several risks have been noted around Sandisk’s AI-driven growth and valuation. These include weaker consumer revenue, long manufacturing lead times, supply management challenges, potential moderation in hyperscaler spending, flash-price declines, and cyclical margin pressure. These factors frame the backdrop against which investors are assessing the latest share-price rebound and forward guidance.