Sandisk (SNDK) Up 580% in 2026, Faces 30% Drop Since June

Sandisk (NASDAQ: SNDK) has risen 580% since the start of 2026 but is currently down more than 30% from its June high. The company produces NAND memory, which sees high demand in AI data centers, leading to increased prices for memory and related products. Micron Technology (NASDAQ: MU) anticipates the memory chip market to remain supply-constrained beyond 2027, supporting the outlook for Sandisk. If Sandisk achieves a P/E ratio (price-to-earnings ratio) of about 30 times forward earnings, the stock could potentially triple from its current level, making it an attractive investment for buyers.