Prediction: This Is What a $500 Investment in Sandisk Will Be Worth in 2030
Sandisk can still make investors richer despite multiplying exponentially over the past year and a half.
Overview
Sandisk (NASDAQ:SNDK) was spun off from hard disk drive (HDD) specialist Western Digital in February last year, and anyone who bought its shares at that time is sitting on eye-popping gains right now.
An investment of $500 in Sandisk stock when it was spun off is now worth over $26,000. These gains of more than 52x have been fueled by a severe shortage in the NAND flash storage market. The artificial intelligence (AI)-fueled demand for data center storage has created incredible demand for Sandisk's NAND flash storage products, and supply constraints have led to a big spike in prices.
Details
As a result, the NAND flash market's revenue is projected to increase by a whopping 372% this year, according to Gartner. Investors, however, may be wondering if it is a good idea to buy this tech stock following its stunning run over the past year and a half. The good news is that if you have $500 in investible cash right now, putting that money into Sandisk could be a smart move.
Source
Originally published at www.fool.com.