Rosenblatt Securities covered SanDisk for the first time, giving it a “buy” rating and a target price of $2,400. Analyst Kevin Cassidy believes that AI is driving NAND flash memory from traditional commercial storage media to a key component in AI infrastructure. As the scale of the model expands and the amount of inference data increases, customers are paying more attention to storage density, performance, durability, and supply stability than simply low prices. The agency notes that the BiCS8 and BiCS10 platforms, which have been developed in long-term collaboration between SanDisk and Kioxia, are expected to maintain cost and performance advantages in AI enterprise-grade storage. The company's management previously predicted that revenue for the 2028-2030 fiscal year would achieve medium to high double-digit growth, non-GAAP gross margin of about 80%, and adjusted free cash flow margin of about 50%. Rosenblatt Securities also said that SanDisk has signed new commercial agreements with eight large NAND customers, potentially covering about 65% of FY2028 production, which will help increase demand visibility and reduce industry cycle fluctuations.

Rosenblatt Securities covered SanDisk for the first time, giving it a “buy” rating and a target price of $2,400. Analyst Kevin Cassidy believes that AI is driving NAND flash memory from traditional commercial storage media to a key component in AI infrastructure. As the scale of the model expands and the amount of inference data increases, customers are paying more attention to storage density, performance, durability, and supply stability than simply low prices. The agency notes that the BiCS8 and BiCS10 platforms, which have been developed in long-term collaboration between SanDisk and Kioxia, are expected to maintain cost and performance advantages in AI enterprise-grade storage. The company's management previously predicted that revenue for the 2028-2030 fiscal year would achieve medium to high double-digit growth, non-GAAP gross margin of about 80%, and adjusted free cash flow margin of about 50%. Rosenblatt Securities also said that SanDisk has signed new commercial agreements with eight large NAND customers, potentially covering about 65% of FY2028 production, which will help increase demand visibility and reduce industry cycle fluctuations.