Why Bernstein Thinks You Should Buy the Dip in Sandisk Stock Here

Memory stocks have had a horrible few days since Alphabet (GOOGL) came out with its TurboQuant algorithm. If the memory bottleneck problem is solved, it could spell trouble for all the investors and analysts who were pricing in unprecedented memory demand. However, one research firm believes the market is overreacting and that the TurboQuant development will have little impact on memory demand.

Analysts at Bernstein believe HDD demand won’t budge as a result of Google’s new algorithm, while NAND memory demand may only be slightly impacted. In the past few days, people have adopted a “sell first, ask questions later" approach. This has created an attractive valuation for those willing to take a position in memory stocks, especially SanDisk (SNDK). Bernstein now has a $1,000 price target on SNDK stock.