Sandisk Stock Is Still Down 50% From Its Highs.
Is the Memory Winner Still a Screaming Buy Before September?
Although Sandisk (NASDAQ: SNDK) has rallied from its recent lows, it’s still down around 50% from its all-time high. For a company that was the hottest stock in the market in the first half of the year, losing half of its value in a month is nothing short of incredible. I think investors should take advantage of this sell-off.
There’s one central fear regarding the memory chip market, and it’s a valid one. However, I believe the timeline is off, and investors have a good opportunity to buy the stock now. The memory chip market isn’t even close to a downturn Sandisk is a memory chip manufacturer and produces NAND memory, which is used in long-term data storage applications.