Why Are SanDisk Shares Surging On Monday?

SanDisk Corp (NASDAQ: SNDK) shares surged 8.06% to $714.95 on Monday, continuing a strong performance with a 159% increase year-to-date and a 1,184% rise over the past 12 months. The company's revenue is projected to double to $15.2 billion by 2026, with operating income expected to reach $7 billion, a tenfold increase from 2025. This rally is attributed to a shift in institutional investment from software-as-a-service to physical infrastructure, particularly in AI hardware, while the iShares Expanded Tech-Software Sector ETF has declined 17.33% this year.