1. Sandisk Corporation (NASDAQ:SNDK)
Sandisk Corporation (NASDAQ:SNDK) is among the stocks in focus as Jim Cramer reviewed the S&P 500’s top performers and the Nasdaq 100’s biggest laggards for the first quarter. Cramer highlighted it as the top-performing S&P 500 stock for the first quarter. He stated:
Let’s do tech hardware first. The number one performer in the S&P was Sandisk, up 167.7%. The maker of flash memory storage products more than quadrupled last year, and it kept running in the first quarter, thanks to the data center-induced memory shortage. This time, Sandisk broke away from the rest of the pack, Western Digital, Seagate, and Micron, which are up 18 to 57%. I mean, it’s still pretty darn good, but nowhere near close to Sandisk. The thing is, while the memory stocks were all white hot in January, then resilient in February and early March, they did get obliterated over the last couple of weeks.
Micron, for example, reported an incredible quarter in mid-March, but its stock fell from $461 on March 18th all the way down to $321 on Monday, even though it was a good quarter. Can these stocks recover from the recent pullbacks and start moving higher? Well, if you’re a memory bull, the last two days have been pretty darn encouraging. As soon as President Trump started talking about unilaterally ending the war, Sandisk and its compadres just caught fire. I always tell you this is inherently a boom and bust industry, but we’ve only had four quarters in the boom so far. Historically, I’ve found that they tend to last at least six. Still, my guess is that the easy money’s already been made here. I don’t blame if you want try to be in, but it’s not my style.
Sandisk Corporation (NASDAQ:SNDK) sells NAND flash-based storage solutions, including solid-state drives, embedded storage, removable cards, and USB drives.
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