Updated 21 September 2026. SanDisk (SNDK): $1,791.82 at Friday’s close, up 10.99% on the day and about 18% across a three-day run from $1,519.97 on 16 September. After-hours: $1,798.00. Today SanDisk becomes an S&P 100 company, joining alongside Dell Technologies, Palo Alto Networks and Arista Networks.
Verdict: the index move is already in the price and the forced buying is small. From here SNDK trades on NAND pricing, not index membership – and on the 30 September Micron print that will test the memory cycle’s next leg. The stock sits about 24% below its June record of $2,354.39.
Prices: stockanalysis.com and Motley Fool market data, close of 18 September 2026 – the latest US close, as US markets had not opened when this was published.
Key facts
- SanDisk closed at $1,791.82 on Friday 18 September, up $177.43 (10.99%), in a $1,616.00-$1,797.00 range on 17.8 million shares against a 13.8 million average (Motley Fool market data).
- The three-day run: $1,519.97 on 16 September, $1,614.39 on 17 September, $1,791.82 on 18 September – roughly +17.9% in three sessions.
- The index change: S&P Dow Jones Indices announced on 4 September that SanDisk, Dell, Palo Alto Networks and Arista join the S&P 100 before the open on 21 September. Nike, Colgate-Palmolive, Simon Property Group and Honeywell Aerospace leave.
- Market value: about $262 billion, more than four times Nike’s roughly $54 billion (Motley Fool).
- Fiscal 2026 (ended 3 July): revenue $20.25 billion, up 175%; data center revenue up 437%; net income $11.4 billion against a $1.6 billion loss a year earlier.
- Guidance: fiscal Q1 2027 revenue of $10.3-$10.8 billion, about 18% above fiscal Q4’s $8.97 billion, with non-GAAP gross margin guided at 83%-85%.
- Street view: 24 analysts polled by S&P Global have a consensus “Buy” and an average one-year target of $2,125, with a range of $1,000 to $3,600 (stockanalysis.com, updated 14 September).
What S&P 100 inclusion actually does for SanDisk stock
Less than the rally suggests. Index funds that track the S&P 100 must own the new members, but the pool is small. As the Motley Fool’s Daniel Sparks laid out on 19 September, iShares’ S&P 100 ETF holds about $20 billion; at a weight of roughly half a percent, that fund needs about $100 million of SanDisk. On a normal recent day more than $15 billion of the stock changes hands. Tracker funds also tend to buy at the close before the effective date – that was Friday, which is part of why Friday’s volume ran 29% above average.
The big index event already happened. SanDisk entered the S&P 500 on 28 November 2025, when the giant S&P 500 trackers had to buy it; that core iShares fund alone holds about $837 billion. The stock closed 2025 at $237.38. It is up more than 600% this year, more than any other S&P 500 member, and very little of that came from index flows.
So the useful reading of today is symbolic and structural: SanDisk now sits among the 100 largest US blue chips, which widens the benchmarks and mandates it appears in. It does not change the earnings.
What does move SNDK: NAND pricing
SanDisk’s own numbers say the cycle is price-led. The company attributed about two-thirds of its fiscal Q4 sequential growth to higher prices and one-third to volume, as our SanDisk stock price prediction examined in detail using the company’s SEC filing. That cuts both ways:
- Growth is decelerating, not reversing. Sequential revenue growth went from 97% in fiscal Q3 to 51% in fiscal Q4, and the midpoint of Q1 guidance implies about 18%.
- Margins may be near the top. Non-GAAP gross margin rose from 78.4% in fiscal Q3 to 84.6% in fiscal Q4, with 83%-85% guided next. There is not much room above that.
- Valuation is modest on current profits. At about $1,800 the stock trades near 24 times trailing earnings (Motley Fool), and the S&P Global consensus sees fiscal 2027 EPS of $214.10 – under 9 times forward on Friday’s close. The low multiple is the market’s way of saying it does not trust peak-cycle earnings to last.
Two memory-sector dates sit close. Samsung reportedly plans to at least double HBM4-family output in 2027, lifting wafer input to about 250,000 from 180,000 (Seoul Economic Daily, 20 September) – a DRAM story, but one that confirms suppliers see tight memory supply persisting. And Micron reports fiscal Q4 results on 30 September, the first hard read on memory pricing since SanDisk’s August print. Our Micron vs Nvidia comparison covers what that report means for the wider memory trade.
SanDisk stock: bull and bear cases from $1,791.82
Anchors are recent price levels or named analyst data, not FinanceFeeds targets.
| Scenario | SNDK level | What has to happen | Anchor |
|---|---|---|---|
| Bear | $1,450 – $1,550 | The index bid fades as a “sell the inclusion” pattern sets in, and Micron’s 30 September report hints that NAND contract price increases are slowing. The stock gives back the three-day run. | The $1,519.97 close on 16 September, where the run began. |
| Base | $1,900 – $2,125 | Micron confirms tight memory supply, fiscal Q1 tracks the $10.3-$10.8 billion guide, and the stock drifts toward the Street’s average target. | S&P Global consensus target of $2,125 across 24 analysts. |
| Bull | $2,354 – $2,500 | Pricing surprises higher again, margins hold at the top of the 83%-85% guide, and SNDK re-tests its June record. | The all-time high of $2,354.39 reached in June 2026; the most bullish analyst on the stock sits at $3,600. |
The spread between the lowest ($1,000) and highest ($3,600) analyst targets is itself the story: the Street agrees the cycle is strong and disagrees completely about how long it lasts. SanDisk has already shown both sides this year, with a fall of more than 50% from its late-June peak to late July before the current recovery.
Who else changes places today
The same reshuffle removes Nike, whose shares hit a 52-week low last week – see our piece on Nike leaving the S&P 100 and what index funds have to sell. The swap captures 2026 in one line: a memory maker worth about $262 billion replacing a consumer brand worth about $54 billion in the blue-chip index.
Quick take
Today is a milestone, not a catalyst. S&P 100 trackers need about $100 million of stock in a name that trades more than $15 billion on a normal day, and most of that buying happened at Friday’s close.
The next real test is 30 September. Micron’s fiscal Q4 report is the first hard read on memory pricing since SanDisk’s August results. SanDisk’s earnings are two-thirds a pricing story, so its stock will move with that read.
Levels: $1,519.97 is where the run started; $2,125 is the consensus; $2,354.39 is the record.
FAQ
Is SanDisk in the S&P 100?
Yes, from 21 September 2026. S&P Dow Jones Indices announced on 4 September that SanDisk, Dell Technologies, Palo Alto Networks and Arista Networks join the S&P 100 before the open on 21 September, replacing Nike, Colgate-Palmolive, Simon Property Group and Honeywell Aerospace.
What is SanDisk’s stock price today?
SanDisk closed at $1,791.82 on Friday 18 September 2026, up 10.99%, and traded at $1,798.00 after hours (stockanalysis.com). That was the latest US close when this article was published.
Why did SanDisk stock jump on Friday?
Mostly positioning ahead of the S&P 100 inclusion effective today, on top of the continuing rally in memory stocks. Volume was 17.8 million shares against a 13.8 million average.
Will S&P 100 inclusion push SanDisk stock higher?
Probably not much on its own. Motley Fool estimates the largest S&P 100 tracker needs about $100 million of stock, a small amount for a name that trades more than $15 billion on a typical day. SanDisk has been in the S&P 500 since November 2025, which was the far larger index event.
What is the SanDisk price target?
The average one-year target from 24 analysts polled by S&P Global is $2,125, about 18.6% above Friday’s close, with estimates ranging from $1,000 to $3,600 (stockanalysis.com, updated 14 September).
How far is SanDisk from its all-time high?
About 24%. The record is $2,354.39, set in June 2026. The stock then fell more than 50% into late July before recovering.
What is the next catalyst for SanDisk?
Micron’s fiscal fourth-quarter results on 30 September 2026, the next major read on memory pricing. SanDisk’s own fiscal Q1 2027 guide is for $10.3-$10.8 billion in revenue.
Sources
Share price, volume, range and market cap: stockanalysis.com and Motley Fool market data, close of 18 September 2026; daily closes 16-18 September via Yahoo Finance chart data. Index changes, fund-flow estimates, fiscal 2026 results and margin data: The Motley Fool (Daniel Sparks), 19 September 2026, and S&P Dow Jones Indices announcement of 4 September 2026. Analyst consensus and fiscal 2027 EPS estimate: S&P Global Market Intelligence via stockanalysis.com. Samsung HBM4 plans: Seoul Economic Daily, 20 September 2026. Micron report date: Micron Technology press release, 26 August 2026.
Disclaimer: This article is for informational purposes only and does not constitute financial, investment or trading advice. Stock prices are volatile and past performance is not indicative of future results. FinanceFeeds does not recommend buying or selling any security. Always do your own research and consider consulting a licensed financial adviser before making investment decisions.
