Sandisk's AI Memory Boom Won't Likely Replicate Last Year's Gains

Sandisk is riding an AI-driven memory boom, with fiscal 2026 revenue and earnings soaring and margins expanding, but the outlook for the next three years is for more modest growth; at about 20x trailing earnings the stock looks reasonably cheap vs the tech sector, yet investors should not expect last year’s outsized returns to repeat as memory shortages linger and AI spending stays elevated.