Key Takeaways
- SNDK shares have skyrocketed 2,739% over the trailing year and 246% year-to-date in 2026, finishing at $952.50
- Jim Cramer continues to champion SNDK, emphasizing that memory demand has reached unprecedented levels
- The stock will be added to the Nasdaq-100 index on April 20, triggering mandatory purchases from index funds
- Sustained AI infrastructure buildouts are fueling strong demand for NAND flash and enterprise SSD products
- However, a significant number of data center initiatives unveiled after ChatGPT’s debut have faced delays or cancellations
SanDisk has emerged as one of the market’s most discussed equities this month. Jim Cramer has championed SNDK consistently, and his bullish stance has proven profitable so far.
During the trailing twelve months, SNDK has exploded 2,739%. Year-to-date in 2026, shares have jumped 246.06%, settling at $952.50 on April 14. Extended trading that evening pushed the price another 2.47% higher to $976.
Cramer weighed in on the stock while discussing the market relief rally triggered by the Iran ceasefire. He highlighted a group of memory-focused companies — SanDisk, Western Digital, Lam Research, and Seagate — emphasizing that product demand has exceeded all expectations.
Yet Cramer’s remarks weren’t purely celebratory. He characterized SanDisk and Western Digital as imposing “a tax on the system,” explaining that these companies continue hiking prices because supply cannot match demand. He observed that memory technology involves “low intellectual property” and drives up costs for anyone building data centers.
Nonetheless, he confirmed the underlying demand narrative holds true. Data centers require substantial memory, and current supply falls short. This imbalance has been the primary driver behind SNDK’s remarkable ascent.
Index Addition Scheduled for April 20
A significant technical catalyst now appears on investors’ calendars. SNDK is slated to enter the Nasdaq-100 on April 20. Following this inclusion, passive funds that track the index must purchase shares, creating a substantial influx of institutional capital.
Historically, this type of mandatory buying has propelled stocks upward around inclusion dates. Some market observers consider the event a potential short-term peak rather than a launching point, as it may produce a classic sell-the-news reaction once mandatory purchases conclude.
The rally rests on legitimate operational drivers, not purely speculative momentum. SNDK produces NAND flash storage and enterprise solid-state drives — precisely the components hyperscalers and data center operators require at scale.
Given that AI infrastructure investment remains robust, the company has directly benefited. This demand is reflected in both revenue projections and share price appreciation.
Infrastructure Project Postponements Present Downside Risk
Not every indicator suggests continued upside. Numerous large-scale data center developments announced following ChatGPT’s public introduction have experienced delays or complete cancellations.
The explanations range from community pushback to overly optimistic schedules and mounting skepticism about AI’s actual return on investment. Multiple surveys conducted in early 2026 indicated that organizations deploying AI solutions experienced minimal or zero productivity improvements.
Should data center construction activity decelerate substantially, the demand catalyst supporting memory manufacturers like SanDisk could diminish. A considerable portion of the stock’s valuation expansion depends on anticipated bulk hardware purchases from enterprise customers.
As of April 14, SNDK was changing hands at $976 during after-hours trading, with its Nasdaq-100 debut scheduled in just six days.
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