Why This Tech Stock's Recent Dip Could Be a Buying Opportunity

Sandisk (NASDAQ: SNDK) has been one of the hottest stocks in the market, but a 14% pullback from highs hit in early February could be a buying opportunity. And despite its recent highs, the stock is still not expensive, trading at a forward price-to-earnings ratio (P/E) of 15 times analyst estimates for fiscal 2026 (ending June 2026) and just over 7.5 times fiscal 2027 estimates.Image source: Getty Images.The company is a leading producer of NAND storage devices, or flash memory. It is one of the few pure-play ways to invest in this segment of the tech market after the company was spun off from Western Digital about a year ago. NAND has been a very cyclical market over the years, but the space looks like it is at the beginning of what appears to be a long-lasting supercycle.Continue readingWeiter zum vollständigen Artikel bei MotleyFool Weiter zum vollständigen Artikel bei MotleyFool