Sandisk stock has fallen 48% from its all-time high in June despite strong business fundamentals. The article argues this presents a buying opportunity, as the company benefits from surging AI data center demand for NAND memory chips. With a low valuation of 6x forward earnings and sustained supply shortages expected to support elevated memory chip prices, the author believes the stock could recover to previous highs.
Axe note: Sandisk's deep correction offers lessons for South African investors watching tech and cyclical plays amid rand volatility.