Down Nearly 50% From Its High, Has Sandisk Stock Become a Cheap Buy?

Sandisk stock has plummeted nearly 50% from its 52-week high despite strong quarterly revenue growth of 372% year-over-year. The decline was triggered by disappointing forward guidance that missed analyst expectations, raising concerns about potential slowdown in the memory and storage market. Trading at 17x trailing earnings compared to the S&P 500 average of 26x, the stock appears undervalued and could present a buying opportunity for risk-tolerant investors, though uncertainty remains.