Sandisk Stock Has Lost About 64% Since June. Here's the Price at Which I'd Buy It.

SNDK has shed roughly 64% since its June peak of $2,335, trading near $806 after an AI data center stock sell-off that followed the November 3 midterm elections.

The earnings line tells a different story than the chart. Adjusted EPS hit $49.51 in fiscal Q1 2027, and guidance calls for $55-$57 in Q2. Growth is decelerating, but profits are still climbing. At current levels, the stock trades at less than 4 times annualized earnings.

The Motley Fool analyst argues that valuation is now fair for a cyclical memory company and sets a buy level near $900 per share, equivalent to $112 post-split. Interpretation: that target sits about 12% above the current price, which implies the author wants confirmation of stabilization rather than a bottom-pick at $806. The low earnings multiple reflects the market pricing in cyclical risk, not a collapse in reported results.

The sell-off has been driven by sector sentiment toward AI data center names rather than by an earnings miss, based on the supplied evidence. That distinction matters: the drawdown reflects repricing, not deteriorating guidance.