After Falling Nearly 50%, Sandisk Stock Looks Compelling With 85% Upside Potential

Sandisk (SNDK) has taken a sharp hit after an extraordinary rally, falling 47% from its 52-week high and declining roughly 34% over the past month. Several factors are behind the recent weakness. After a steep run-up, profit-taking was inevitable, but investor concerns have also shifted toward the broader memory chip market.

Sandisk provides data storage devices and solutions based on NAND flash technology. The company is benefiting from growing demand for storage across AI workloads, data centers, edge computing, and consumer applications. Further, higher average selling prices have significantly boosted its revenue and earnings.