Last week, I put a number on what I’d be willing to pay for Sandisk (SNDK -4.12%) stock. My rule was that I wouldn’t pay over four years’ worth of earnings at the rate management guided for this quarter, which came to around $900 a share.
The stock didn’t stay under that price long. Sandisk closed at about $806 on Nov. 5. Then shares soared on Wednesday, Nov. 11 — the day after AI cloud provider CoreWeave lifted its 2026 revenue forecast.
At roughly $990 as of this writing, the flash memory company is up about 23% since that Nov. 5 close. Under my own rule, that means I’d hold off for now, and nothing else in the last week gives me a reason to bend it.
Image source: Getty Images.
A buyer now pays for 4.4 years of profits
Sandisk’s…
