Western Digital (NYSE: WD) spun off Sandisk (NASDAQ: SNDK), one of the world’s largest flash memory chipmakers, in Feb. 2025. Sandisk’s stock started trading independently at $36 per share, but it eventually soared to a record high of $2,335 per share on June 25, 2026.

That rally was driven by the explosive growth of the AI market, which forced data centers to upgrade their servers with faster solid-state drives (SSDs). But as of this writing, Sandisk’s stock trades at $835. Let’s see why its stock was cut in half — and if it’s becoming too cheap to ignore.

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