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After an impressive rally, Sandisk (SNDK) has given back a significant portion of its gains. SNDK stock has fallen more than 45% from its peak, including a sharp 44% decline in the past month, as investors reassess the memory chip market.
Several factors have led to this strong selloff. Profit-taking after the stock's strong run has coincided with growing concerns about rising competition from Chinese memory manufacturers and expectations for softer NAND pricing. At the same time, the broader weakness across AI stocks — driven by concerns over long-term returns on massive AI infrastructure spending — has further weighed on sentiment.
