Artificial intelligence (AI) and quantum computing aren't the only trends exciting investors on Wall Street. Stock split announcements from industry leaders are also fueling significant upside.
Last week, semiconductor process control market kingpin KLA Corp (KLAC +11.88%) announced its intent to conduct a 10-for-1 forward stock split, marking the sixth forward split in its history. But it may have also rolled out the red carpet for a foundational AI company that's up nearly 4,200% over the trailing year, Sandisk (SNDK 1.93%), to join the party as Wall Street's next stock-split stock.
Image source: Getty Images.
KLA is the first blockbuster tech stock split of 2026
With its share price approaching $1,900, KLA's stock split, which goes into effect after the close of trading on June 11, will make its shares more nominally affordable for retail investors who can't buy fractional shares through their broker.
KLA Corp's greater-than-51,000% gain since the beginning of 1994 (including dividends) is a direct result of its sustainable moat in the semiconductor process control market. Its electron-beam and optical inspection systems can detect, log, and classify microscopic chip defects. It currently accounts for over half of the semiconductor chip process control market share.
NASDAQ: KLAC
Key Data Points
But let's not beat around the bush: AI is at the heart of KLA Corp's breathtaking returns. As advanced AI chips become smaller, the specialized systems from KLA become even more important to maximizing their potential and ensuring no defects.
KLA taking the stock-split plunge has opened the door for other pillars of the artificial intelligence revolution to follow suit, such as Sandisk.
Image source: Getty Images.
Sandisk is playing an essential role in the evolution of AI
Sandisk became a public company (once again) after being spun out from Western Digital in February 2025. Despite being a relative newbie, it's garnered the attention of retail investors. Shares have soared 4,162% over the trailing year, driven by insatiable enterprise demand and otherworldly pricing power.
Businesses are spending aggressively on AI data center build-outs, which, among other things, require high-performance storage solutions (specifically, NAND flash storage). Demand for Sandisk's NAND flash storage has overwhelmed supply, pushing prices up and shooting the company's sales growth, margins, and profits into the stratosphere.
2027 EPS estimates for SanDisk $SNDK are about to bend backwards in time while still moving parabolically higher: pic.twitter.com/qRsPDqR5KA
-- Consensus Media (@ConsensusGurus) May 3, 2026
In September 2025, Wall Street was estimating that Sandisk would generate around $10 in earnings per share (EPS) in fiscal 2027 (its fiscal year ends in late June). Eight months later, analysts' EPS consensus has jumped to $169.26, as of May 8, 2026. If this figure is remotely in the ballpark, Sandisk stock can head even higher, providing added fuel for the board to declare a stock split.
In addition to forward stock splits making shares more nominally affordable for retail investors who can't purchase fractional shares, they can also narrow spreads. Sandisk's $1,562.34 share price, as of the closing bell on May 8, can lead to wide variances in the bid-ask spread. A lower nominal share price should tighten this spread, providing retail investors with potentially more efficient prices when adding or exiting a position.
AI and memory buzz are ripe for Sandisk to become Wall Street's next AI-driven stock-split stock.
