Sandisk Rode an Estimated 70% Jump in NAND Prices. TrendForce Sees 10% to 15% This Quarter.

August 24, 2026 - 05:00

The memory market is still riding high, but the pace is finally starting to ease. SanDisk, one of the biggest names in flash storage, reportedly rode an estimated 70 percent jump in NAND prices over the recent quarter. That kind of surge is massive by any standard, and it has been a major driver of the company's recent earnings momentum.

But the question on everyone's mind is what comes next. According to TrendForce, the industry research firm, the current quarter is expected to see a more modest increase of 10 to 15 percent. That is still solid growth, but it marks a clear slowdown from the explosive gains of the previous period.

The difference matters a lot for investors and analysts who have been building their profit forecasts around the steep part of the curve. A 70 percent jump is the kind of number that can turn a mediocre year into a spectacular one. A 10 to 15 percent rise is still good, but it is a completely different ballgame in terms of margin expansion and revenue upside.

What is driving the slowdown? Supply is starting to catch up with demand. Earlier this year, memory makers were scrambling to meet orders from cloud providers, smartphone makers, and AI data centers. Now, some of that urgency has cooled, and buyers are becoming more cautious about inventory levels. That does not mean prices are falling, just that the rate of increase is flattening out.

For SanDisk, the key will be how well it manages this transition. The company has been benefiting from a tight market, but it also needs to keep its own production costs in check. If NAND prices settle into a slower climb, the focus will shift back to operational efficiency and product mix rather than just riding the price wave.

The broader takeaway is that the memory cycle is not over. It is just entering a more mature phase. That is normal, but it means the easy money has likely been made. The next few quarters will test whether companies like SanDisk can keep delivering strong results when the tailwind is not as strong.