TLDR
- SNDK shares have surged 2,739% in the past year and 246% year-to-date in 2026, ending at $952.50
- Jim Cramer has maintained a bullish stance on SNDK for several months, highlighting explosive memory demand
- The stock will be added to the Nasdaq-100 index on April 20, likely triggering institutional buying pressure
- Strong AI data center requirements for NAND flash storage and enterprise SSDs fuel the momentum
- Downside risk persists: numerous data center initiatives announced after ChatGPT’s debut face delays or cancellations
SanDisk has emerged as one of the market’s hottest stocks this month. Jim Cramer has been vocal about his support for SNDK over recent months, and his bullish call has paid off handsomely.
In the trailing 12-month period, SNDK shares have rocketed 2,739%. Year-to-date in 2026, the stock has posted gains of 246.06%, finishing regular trading at $952.50 on April 14. After-hours activity pushed the price even higher by 2.47%, bringing it to $976.
Cramer weighed in on the stock while discussing the market rebound triggered by the Iran ceasefire. He highlighted a group of memory-focused companies — SanDisk, Western Digital, Lam Research, and Seagate — emphasizing that demand for their products is exceptionally strong.
However, his commentary wasn’t entirely without criticism. Cramer characterized SanDisk and Western Digital as “a tax on the system,” explaining that these companies continue hiking prices due to severe supply constraints. He remarked that memory represents “low intellectual property” and inflates costs for data center operators across the board.
Nonetheless, Cramer validated the underlying demand narrative. Data centers require massive amounts of memory, and current production capacity falls far short. This supply-demand imbalance has been the primary engine behind SNDK’s spectacular ascent.
Nasdaq-100 Inclusion on April 20
A significant technical catalyst is now approaching. SNDK is scheduled to enter the Nasdaq-100 index on April 20. Upon inclusion, passive funds that track the index will be compelled to purchase shares, creating an influx of institutional capital.
Historically, this type of mandatory buying has propelled stock prices upward surrounding inclusion dates. However, some market watchers interpret this event as a potential short-term peak rather than a launching pad, since it can trigger profit-taking once the programmed purchases conclude.
The rally isn’t solely momentum-driven — it’s supported by solid fundamentals. SNDK produces NAND flash memory and enterprise solid-state drives, which are essential components for hyperscale cloud providers and data center operators purchasing in massive volumes.
As AI infrastructure investment remains robust, the company has captured substantial benefits. This elevated demand is reflected in both revenue projections and share price appreciation.
Data Center Delays Are a Risk Worth Watching
Yet not all signals are positive. A significant number of ambitious data center projects unveiled following ChatGPT’s mainstream emergence have experienced postponements or outright cancellations.
The explanations differ — community resistance, overly optimistic schedules, and mounting skepticism about AI’s actual return on investment for adopting enterprises. Multiple studies conducted in early 2026 indicated that organizations implementing AI technologies observed minimal or zero productivity improvements.
Should data center construction activity decline substantially, the demand catalyst supporting memory manufacturers like SanDisk could deteriorate. A considerable portion of the stock’s valuation expansion relies on anticipated large-scale hardware procurement from enterprise customers.
As of April 14, SNDK was changing hands at $976 in extended trading, with its Nasdaq-100 debut just six days away.
