9 Best Performing New Tech Stocks to Buy Now

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1. Sandisk Corporation (NASDAQ:SNDK)

Number of Hedge Fund Holders: 61

6-Month Performance: 1,049.27%

Sandisk Corporation (NASDAQ:SNDK) is one of the best performing new tech stocks to buy now. On January 26, Mizuho raised its price target on SanDisk to $600 from $410 with an Outperform rating, citing a belief that pricing tailwinds in legacy DRAM and NAND markets will improve 2026 sales and margins for the memory group. The firm expects no new NAND wafer capacity in 2026 or 2027 while demand expands over 20% in 2026, leading to estimated annualized NAND pricing increases of 330% year-over-year in 2026 and 50% in 2027 as AI server demand accelerates. Consequently, the firm increased price targets across the memory sector to reflect this anticipated tight supply environment.

On the same day, Morgan Stanley raised its price target on Sandisk Corporation (NASDAQ:SNDK) to $483 from $273 with an Overweight rating and noted that NAND fundamentals remain exceptional due to a surge in enterprise solid state drives, tightening consumer markets.

The firm is raising its numbers on NAND pricing strength while keeping estimates in-line with management guidance for the December quarter; for March, the firm now models revenue of $2.94 billion and non-GAAP EPS of $5.71 based on NAND average selling prices increasing 20% sequential and bits decreasing 6%. The firm added that its through-cycle estimate of $13 in earnings power is likely too low as financial figures continue to rise.

Sandisk Corporation (NASDAQ:SNDK) develops, manufactures, and sells data storage devices and solutions using NAND flash tech in the US, Europe, the Middle East, Africa, Asia, and internationally.

While we acknowledge the potential of SNDK to grow, our conviction lies in the belief that some AI stocks hold greater promise for delivering higher returns and have limited downside risk. If you are looking for an AI stock that is more promising than SNDK and that has 100x upside potential, check out our report about this cheapest AI stock.

READ NEXT: 30 Stocks That Should Double in 3 Years and 11 Hidden AI Stocks to Buy Right Now.

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