8 Unstoppable Technology Stocks to Buy Now

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5. Sandisk Corporation (NASDAQ:SNDK)

Number of Hedge Fund Holders: 75

​Sandisk Corporation (NASDAQ:SNDK) is one of the Unstoppable Technology Stocks to Buy Now. On March 25, Sandisk Corporation (NASDAQ:SNDK) announced that its subsidiary Sandisk Technologies has entered an agreement to acquire around 139 million shares of Nanya Technology Corporation, worth roughly $1 billion.

​Nanya Technology Corporation is a Taiwan-based DRAM maker, and the agreed deal translates to 3.9% stake of Nanya’s fully diluted shares. The company noted they are buying the shares at a 15% discount to the company’s 30-day trading average, and the deal is also in compliance with Taiwan’s Securities and Exchange Act.

​According to the terms of the agreement, Sandisk won’t be able to sell or transfer shares for 3 years after the deal, except in limited cases allowed by Taiwanese law. In addition to this purchase, both companies have also entered a multi-year strategic supply deal, which will see Nanya supplying DRAM to the company.

​Sandisk Corp. (NASDAQ:SNDK) is a semiconductor and flash storage hardware company. It specializes in NAND flash technology, designing solid-state drives and embedded storage solutions for everything from enterprise data centers and cloud service providers to mobile devices, automotive systems, and IoT applications.

While we acknowledge the potential of SNDK to grow, our conviction lies in the belief that some AI stocks hold greater promise for delivering higher returns and have limited downside risk. If you are looking for an AI stock that is more promising than SNDK and that has 100x upside potential, check out our report about the cheapest AI stock.

Click to continue reading and see the 5 Unstoppable Technology Stocks to Buy Now.

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