Why Sandisk Stock Keeps Falling?

Sandisk stock has fallen 45% from its 52-week high despite strong financial performance, with a 175% year-over-year revenue increase and 24x earnings growth. The decline is driven by sector rotation out of memory stocks, concerns about industry cyclicality, Chinese competition, and AI spending sustainability. However, the company's long-term supply agreements with data center customers and analyst projections of 141% revenue growth in fiscal 2027 suggest the sell-off is unjustified, presenting a potential buying opportunity.