This Memory Stock Has Soared From About $40 to More Than $2,300 in a Year. Is It Too Late to Buy?

Sandisk stock has surged over 50-fold in a year, driven by AI-driven demand for NAND flash memory and tight supply. The company reported 251% revenue growth and signed multi-year supply contracts to stabilize earnings. However, at a 78 P/E ratio (18 on forward basis), the stock has priced in significant good news. Analysts caution that memory is cyclical and today's high margins won't last forever, making it a high-risk play best approached cautiously.