I have been tracking Stephen “Sarge” Guilfoyle’s Memory and Storage Basket for some time now. Four stocks. Four home runs. And of the four, Guilfoyle keeps returning to the same name with the most conviction.Mighty, mighty SanDisk.Guilfoyle, a former NYSE floor trader with more than 30 years of experience, Marine Corps veteran, and founder of Sarge986 LLC, raised his SanDisk (SNDK) price target to $2,600 from $2,425 in his latest note on TheStreet Pro. SNDK closed on June 23 at $1,963.60, according to Yahoo Finance, down 13.64% in the session after South Korea’s Kospi crashed by more than 10%, triggering a brutal, broad tech sell-off that swept memory stocks down alongside it. The pullback, in Guilfoyle’s view, changes nothing about the setup.SanDisk is still up 727.20% year to date, Yahoo Finance confirmed. It is still the best-performing S&P 500 component in 2026, Slickcharts noted. And according to Sarge, the technical structure just got more interesting, not less.Also Read: Sandisk Corp. Latest News and StoriesWhat Guilfoyle sees in the chart is a breakout from a bearish patternThis is where my read aligns closely with Guilfoyle’s. The chart setup he described is one of the more compelling technical configurations I have seen on a momentum name this year.From April through June, SNDK developed what Guilfoyle identified as a rising wedge pattern. This is a bearish reversal formation. The stock has now broken out of that pattern to the upside. That distinction matters significantly, according to his note on TheStreet Pro.When a stock executes a bullish breakout from a bearish pattern, Guilfoyle notes the move is often explosive and potentially exaggerated. The memory sector catalyst sitting directly ahead is Micron’s Q3 earnings on June 24. This could further amplify that move if Micron delivers the beat-and-raise quarter Wall Street is expecting.More Sandisk:Bank of America resets Sandisk stock price targetBarclays resets Sandisk stock price target after earningsCiti revamps Sandisk stock price target for the rest of 2026The supporting technical indicators are equally constructive. SNDK has used its 21-day exponential moving average as support for three consecutive months. Relative Strength has entered technically overbought territory. Nothing new for this name, Guilfoyle notes. The MACD histogram has moved well beyond the neutral line, and the 12-day EMA has crossed above the 26-day EMA, with both lines already in positive territory and widening.Here is Guilfoyle’s tactical framework. Pivot sits at $2,167 — the June 16 high — with an add trigger on any retest of the 21-day EMA. Panic level is a loss of that 21-day EMA, currently sitting near $1,813, according to the note Sarge shared with his investors on TheStreet Pro.
SanDisk is the best-performing S&P 500 component in 2026.Smith Collection/Gado/Getty Images
The fundamental story that makes the technical case credibleA technical setup is only as compelling as the business underneath it, and SanDisk’s business in 2026 is genuinely extraordinary.Sandisk Fiscal Q3 2026 results, reported April 30, showed revenue of $5.95 billion — up 97% sequentially and above guidance — with GAAP net income of $3.615 billion, or $23.03 per diluted share. Datacenter revenue alone grew 233% quarter over quarter. More than one-third of fiscal year 2027 bit output is already committed under New Business Model agreements running at gross margins above 80%, according to my previous SNDK coverage. Zero debt. Strong cash generation. A recently authorized share repurchase program.For fiscal Q4, SanDisk guided for revenue of $7.75 billion to $8.25 billion and non-GAAP EPS of $30.00 to $33.00, according to SanDisk’s third-quarter earnings report. Related: Sandisk future hinges on powerful AI shift, says Morgan StanleySarge goes ahead to point out that Wall Street is already projecting Q2 fiscal 2027 EPS of $33.75 on revenue approaching $8.3 billion — versus year-ago comparables of $0.29 on $1.9 billion. Of the 16 sell-side analysts covering SNDK, 13 have already increased their estimates for the upcoming quarter. FactSet Q2 fiscal 2026 earnings insight data show SanDisk is one of the largest contributors to Information Technology sector earnings growth in dollar terms, alongside Nvidia, Apple, and Micron.Bank of America analyst Wamsi Mohan, who now ranks 121 out of 12,314 Wall Street analysts and 44 out of 28,910 experts on TipRanks, raised his SanDisk target to $2,100 from $1,550 June 8, maintaining his buy rating, according to TheStreet.Why June 23’s sell-off changes the setup rather than threatening itThe June 23 decline had nothing to do with SanDisk’s fundamentals. South Korean stocks crashed 10%, triggering a 20-minute trading suspension in Seoul and a ripple effect through every AI and memory-related name globally, as mentioned in my previous Micron coverage.Foreign profit-taking after an overheated rally, regulatory concerns over leveraged ETFs tied to Korean chipmakers, and a broad AI pullback all contributed simultaneously.Related: Bank of America resets Sandisk stock price targetWhat that sell-off produced, in Guilfoyle’s framework, is exactly the kind of retest that validates the 21-day EMA as living support. SanDisk, spun out of Western Digital in February 2025, has returned more than 4,000% over the past year, according to Yahoo Finance, and is now rebuilding toward a setup Guilfoyle is calling potentially explosive.His new $2,600 target represents roughly 32% upside from the June 23 close. But what stands out to me is not the number but the conviction. Guilfoyle has held SNDK in his basket all year, raised the target before, and is raising it again on a day the stock dropped 13%. We saw Bank of America strongly do the same for Micron, too, after it dropped more than 12% on June 23. Now, this time, Sarge is doing it for SanDisk, and he is not momentum chasing. That is a trader who trusts his data and removes the emotion from the decision.Related: Micron, SanDisk get a number Wall Street rarely writes