Skip to navigationSkip to main contentSkip to right columnADVERTISEMENTKeith Noonan, The Motley FoolTue, June 30, 2026 at 9:32 PM GMT+2 2 min readSandisk (NASDAQ: SNDK) stock is booking huge gains in Tuesday's trading. The memory technology specialist's share price was up 9.3% as of 3:10 p.m. ET. The S&P 500 had risen 0.8% at the same point in the daily session, and the Nasdaq Composite had surged 1.4%.After some sell-offs in last week's trading, chip stocks have come roaring back early in this week's trading -- and Sandisk is benefiting from the trend. The company's share price is also getting a boost from bullish analyst coverage.Missed Nvidia in 2009? This Rare Signal Is Flashing Again. In 2009, a "Double Down" signal flashed for a little-known chipmaker called Nvidia. For the first time in years, that same "Total Conviction" signal is flashing for a company 1/100th the size of Nvidia. Continue »Image source: Getty Images.Chip stocks are seeing strong bullish momentum this weekThe S&P 500 and the Nasdaq Composite saw substantial sell-offs last week as investors weighed concerns that valuations for artificial intelligence (AI) chip stocks had become overly stretched. Those bearish pressures have dissipated early in this week's trading. News that the U.S. and Iran had once again agreed to cease military operations against each other and some reassuring economic data have investors buying back into top chip stocks, and Sandisk is seeing strong valuation gains in conjunction with these trends.Sandisk stock just got a massive price-target increaseAfter the market closed yesterday, Bernstein published new coverage on Sandisk stock -- and the note was eye-catching. Mark Newman, the firm's lead analyst on the stock, maintained a buy rating on the stock and raised the firm's one-year price target on Sandisk from $1,700 per share to $3,000 per share.As of this writing, Bernstein's new price target implies additional upside of roughly 33% for Sandisk stock. Newman pointed to Sandisk's recent long-term contract wins at highly profitable margin levels as a key factor for the dramatic price-target increase.Should you buy stock in Sandisk right now?Before you buy stock in Sandisk, consider this:The Motley Fool Stock Advisor analyst team just identified what they believe are the 10 best stocks for investors to buy now… and Sandisk wasn't one of them. The 10 stocks that made the cut could produce monster returns in the coming years.Consider when Netflix made this list on December 17, 2004... if you invested $1,000 at the time of our recommendation, you'd have $397,890!* Or when Nvidia made this list on April 15, 2005... if you invested $1,000 at the time of our recommendation, you'd have $1,196,664!*Terms and Privacy PolicyEU DSA contactPrivacy & Cookie SettingsMore Info