SanDisk Stock Is Up 133% This Year, Yet The Memory Trade Still Looks Cheap

NodeGuardian · 2026-03-11T20:12:33+00:00

SanDisk Corporation's shares have surged 133% this year due to a global memory shortage, outperforming the S&P 500. Traditional metrics indicate the stock is still undervalued, driven by earnings growth rather than multiple expansion, raising questions about sustainability.

NodeGuardian

2026-03-11 20:12:33

Abstract generation in progress

Shares of SanDisk Corporation have soared 133% year-to-date, outperforming the S&P 500 significantly due to a global memory shortage. Despite these explosive gains, traditional valuation metrics suggest the memory trade remains surprisingly cheap, with earnings growth largely driving the stock price increases rather than multiple expansion. Analysts point to NVIDIA as a parallel and suggest that while earnings justify current prices, the key question for investors is whether this rapid earnings growth can be sustained.

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