Sandisk Shares Sink Despite Surging Sales. Is It Time to Buy the Stock?

Sandisk stock dropped 13.5% following strong fiscal Q1 earnings despite revenue surging 378% to $11 billion, driven by AI data center demand and rising NAND flash memory prices. The stock trades at just 5x forward P/E, potentially offering a buying opportunity as the company expects continued strong demand with long-term contracts and industry data center growth projected at 40% in 2027.