Sandisk Stock Is Down 30% From Its Peak: Is the Memory Winner Still a Screaming Buy Before September?

Sandisk (NASDAQ: SNDK) has surged nearly 600% in 2026 but is still about 30% below its peak reached just before July. After a mid-year pullback likely driven by profit-taking, the stock has been recovering quickly, raising the question of whether it can sustain the rally to new highs before September. The article points to a NAND memory shortage supporting demand from AI hyperscalers, which has lifted Sandisk’s revenues and profits. It also notes that the memory chip market is cyclical, so prices could fall once supply normalizes. With forward earnings at 7.6 times, the valuation is presented as low versus typical AI stocks. However, performance may hinge on quarterly results and renewed strength in memory demand.