Sandisk: Following A 60% Decline It's Too Cheap To Ignore (Rating Upgrade)

Sandisk Corporation delivered strong Q1 results with robust revenue and margin expansion, yet shares declined on overblown AI-related fears. SNDK's 8-for-1 stock split and rapid buybacks signal management confidence, while analyst estimates remain consistently too conservative. AI-driven demand and limited supply have fueled nearly 380% revenue growth and gross margins of 85%, though future margin compression is expected.