SanDisk shares traded close to $1,980 in recent action, gaining roughly 5% while the AI memory trade held up, with the stock last seen at $1,980.10 and a market cap over $310 billion. The company posted fiscal third-quarter revenue of $5.95 billion, up 251% from the same period last year and 97% from the previous quarter, with GAAP gross margin reaching 78.4%. Data-center sales climbed 233% sequentially to $1.47 billion, driven by higher pricing and demand from AI infrastructure customers. CEO David Goeckeler called it a “fundamental inflection point” as SanDisk moves to higher-value markets and signs more multiyear customer deals. Long-term supply contracts are key to the bull argument, with SanDisk locking in five supply deals totaling $42 billion. The company also unveiled a $6 billion buyback and forecast fiscal Q4 revenue between $7.75 billion and $8.25 billion. Skeptics cite NAND cyclicality, with Esxeleryn Analytics at Seeking Alpha maintaining a Sell/Exit call, noting the 78.4% gross margin, big spot-market bets, and worries that NAND prices could fall if supply rises. A June 14 Yahoo Finance article from The Motley Fool questioned if the stock is still worth buying after its nearly 600% rally in 2026.