Sandisk Is Up 429% This Year -- Its $15.5 Billion Stock Buyback Suggests Management Thinks Shares Are Still Cheap

Sandisk has surged 429% in 2026 and authorized a $15.5 billion stock buyback program, signaling management confidence that shares remain undervalued. The company's data center revenue grew 437% year-over-year, driven by AI infrastructure demand. With a forward P/E of 6, $93.9 billion in contracted minimum revenue, and 85% gross margins, analysts believe the stock could continue climbing as the AI capex cycle unfolds.