SandiskCorp. (SNDK): AI Boom Fuels Attractive Storage Market Opportunity
Parnassus Investments, an investment management firm, included Sandisk Corporation (NASDAQ:SNDK) in their Q2 2026 investor letter. The letter reported a 17.49% return for the second quarter, surpassing the Russell 1000 Growth Index's 16.74%. In the year-to-date period, Parnassus Growth Equity Fund achieved a 6.17% return, outpacing the Russell 1000 Growth's 5.33%.
The company remains bullish on U.S. equities, actively seeking disruptive growth opportunities. Sandisk Corporation, which develops, manufactures, and sells data storage devices, was highlighted as a newly added position. The company specializes in flash memory solutions, which are in high demand due to AI workloads and constrained supply.
Parnassus Growth Equity Fund stated that the combination of accelerating AI-driven storage demand and limited supply presents an attractive opportunity to participate in the current upcycle. Sandisk Corporation ranks among the 40 most popular stocks among hedge funds, with 128 hedge fund portfolios holding the stock at the end of the second quarter, compared to 114 in the previous quarter.
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