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On Friday evening, Nasdaq Inc. made an announcement that SanDisk, a global frontrunner in the NAND flash memory industry, is set to replace Atlassian Corp Plc and become a new constituent of the Nasdaq-100 Index prior to the market opening on April 20, 2026. This adjustment highlights SanDisk's remarkable expansion in market capitalization and its pivotal role within the memory chip sector. Since the start of this year, riding on the wave of the memory chip supercycle spurred by the AI boom, SanDisk's stock price has witnessed a cumulative increase of over 200%, and it has skyrocketed by more than 2500% in the past year alone. Presently, Wall Street analysts are broadly upbeat about SanDisk's future prospects. Mizuho has elevated its target stock price from $710 to $1,000, while Bernstein has upped its target from $1,000 to $1,250 and retained an 'outperform' rating.
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