Is It Too Late to Buy Sandisk After Its 568% Run?

Sandisk has surged 568% in 2026, becoming the top-performing Nasdaq-100 stock, driven by massive AI infrastructure spending on memory solutions. The company benefits from $93.9 billion in locked-in long-term supply contracts, a strategic Kioxia joint venture, and aggressive share buybacks. Despite the rally, Sandisk trades at a forward P/E of 7—a steep discount to semiconductor peers—suggesting the stock remains undervalued given strong AI tailwinds and unprecedented demand visibility.