10 Best AI Chip Stocks to Buy for the Long Term

7. Sandisk Corporation (NASDAQ:SNDK)

Market Capitalization: $290.79 billion

Number of Hedge Fund Holders: 114

Sandisk Corporation (NASDAQ:SNDK) is one of the 10 Best AI Chip Stocks to Buy for the Long Term. The share price of Sandisk has skyrocketed 4,047.87% in the past year and an equally impressive 613.41% year-to-date. Based on 28 analyst ratings compiled by CNN, 79% have assigned a Buy rating to Sandisk, while 18% have assigned a Hold rating. The stock has an average price target of $1,702, 13.32% lower than the current price of $1,963.60.

Earlier this month, several analysts raised their price targets on Sandisk amid strong pricing trends. On June 8, BofA analyst Wamsi Mohan increased the price target on SanDisk to $2,100 from $1,550 while maintaining a Buy rating on the stock, according to a report by TheFly. The analyst attributed the higher price target to strong trends in pricing and continued strong demand, citing an increase in its FY27 revenue and EPS estimates to $44 billion and $188, respectively.

Similarly, Mizuho Analyst Vijay Rakesh also boosted its price target on Sandisk to $2,200 from $1,825, while keeping an Outperform rating amid the tailwinds driving NAND demand, according to a report by Investing.com.

Moreover, Cantor Fitzgerald also increased its price target on Sandisk to $2,900 from $1,800 while maintaining an Overweight rating on the shares, also citing sustainable tailwinds in the new AI-driven memory paradigm.

Sandisk Corporation (NASDAQ:SNDK) is a developer, manufacturer, and provider of data storage devices and solutions based on NAND flash technology.