The maker of NAND flash drives and solid-state storage drives for data centers and AI applications has been on a run that's rarely been matched in recent years. Sandisk was a public company from 1995 to 2016, when Western Digital acquired it. Sandisk went public in February 2025 at $38 per share after spinning off from Western Digital. But when it went public, it hit right in the middle of the AI storage supercycle, with demand far outpacing supply. This created insatiable demand for Sandisk's drives and allowed it to have a huge amount of pricing power.
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