SanDisk (SNDK) Stock Jumps 11% After Apple Says It Can’t Absorb Memory Costs Anymore

TLDR

• SanDisk stock jumped 10.9% and hit a new 52-week high of $2,175.88 on June 18
• Apple CEO Tim Cook told the WSJ that iPhone price increases are “unavoidable” due to soaring memory costs
• SanDisk’s most recent quarterly revenue hit $5.95 billion, up 251% year-over-year, with gross margin at 78.4%
• The company’s full 2026 production capacity is sold out, with 2027 bookings already described as strong
• Morgan Stanley raised its price target on SNDK, and a major new flash-memory supply deal was also reported

SanDisk stock hit a new 52-week high of $2,175.88 on June 18, rising 10.9% in morning trading after Apple CEO Tim Cook told The Wall Street Journal that price increases across Apple’s device lineup are “unavoidable.”

Sandisk Corporation, SNDK

Cook’s exact words: “Unfortunately, price increases are unavoidable.” He added that Apple had tried to protect customers but said “the situation has become unsustainable.” He went further, comparing the memory shortage to a hundred-year flood — “I’ve never seen anything like it in any area in over 40 years.”

That’s a pretty stark admission from the CEO of the world’s most valuable company. Markets took it as confirmation that the NAND supply squeeze is real, deep, and not going away soon.

NAND storage is made by just a handful of companies — Samsung, SK Hynix, Micron, Kioxia, and SanDisk — giving each one serious pricing power when demand outstrips supply.

SanDisk’s last quarterly results backed that up. Revenue came in at $5.95 billion, up 251% year-over-year. Data center sales grew 233%. Gross margin hit 78.4%. Those are not typical semiconductor numbers.

The company has said its entire 2026 production capacity is already sold out. Bookings for 2027 are described as strong.

What Drove the Move

Beyond Cook’s comments, a few other catalysts stacked up on the same day. Reports of a major new flash-memory supply deal surfaced, a broader semiconductor rally was underway, and Morgan Stanley raised its price target on SNDK — adding institutional weight to the day’s momentum.

DRAM and NAND prices have both risen more than 300% since 2023. Research firm TechInsights projects continued price increases into 2027. New supply capacity takes 18 to 24 months to come online, which limits how quickly anyone can respond to demand.

SanDisk is also locked into long-term contracts that give it unusual revenue visibility for a chip company.

The Nasdaq gained 1.3% on the day, recovering from a selloff the session before. On June 17, the Federal Reserve’s dot plot sent a hawkish signal on interest rates, pushing the Dow down 0.98%, the Nasdaq down 1.34%, and the S&P 500 down 1.21%. Wednesday’s rebound gave SanDisk’s move extra lift.

Western Digital Swap Coming June 22

SanDisk is also in the middle of a share swap with Western Digital, set for June 22. The transaction positions SanDisk as a dedicated NAND and SSD company focused on AI memory demand.

Year-to-date, SNDK is up 725%. Market cap sits at $294.9 billion. Average daily trading volume is around 14.8 million.

Morgan Stanley’s price target raise was the most recent Wall Street signal on the stock as of the June 18 session.

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