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Why Shares of Sandisk Fell This Week
Shares of Sandisk (SNDK +3.38%), a flash memory company, fell hard this week after Alphabet's Google unveiled a new compression algorithm that allows AI models to use far less memory than before.
That sparked fears among Sandisk investors, adding to broader macroeconomic concerns about a potential slowdown in the U.S. economy due to the war in Iran. As a result, Sandisk's stock was down 14.1% this week to Thursday, 4:11 p.m. ET.
Sandisk and other memory processor companies have enjoyed strong demand for their products as tech giants have increased spending on AI data center infrastructure. More spending is on the way too, with Meta, Microsoft, Amazon, and Alphabet spending a collective $650 billion on capital expenditures this year, mostly for AI.
Is Sandisk Corporation (SNDK) A Good Stock To Buy Now?
Is SNDK a good stock to buy? We came across a bullish thesis on Sandisk Corporation on r/AIPortfolios by manojs. In this article, we will summarize the bulls’ thesis on SNDK. Sandisk Corporation's share was trading at $709.71 as of March 20th. SNDK’s forward P/E was 18.08 according to Yahoo Finance.
Sandisk Corporation develops, manufactures, and sells data storage devices and solutions using NAND flash technology in the United States and internationally. SNDK has surged sharply following a strong earnings print and improving sentiment around AI-driven memory demand, with shares rising from a prior close of $777.30 and implying a 6.6% move toward a target price of $828.47.
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