Sandisk Corporation is upgraded to Strong Buy with a $3,900 price target, implying 200% upside as AI transforms memory from cyclical to core infrastructure. SNDK's PCIe Gen 5, QLC, and BiCS8 technologies, combined with vertical integration and Kioxia partnership, position it as a key AI infrastructure supplier. Consensus underappreciates SNDK's shift from consumer electronics to AI-driven demand, supporting a re-rating from 5x to 15x P/E as margins and growth accelerate.