Jim Cramer’s Takes on 19 Stocks and Navigating Market Shortages

3. Sandisk Corporation (NASDAQ:SNDK)

Number of Hedge Fund Holders: 61

Sandisk Corporation (NASDAQ:SNDK) is one of the stocks that Jim Cramer shared takes on, along with navigating market shortages. Cramer was bullish on the stock, as he remarked:

Tomorrow, we hear from the two remaining storage companies, Western Digital and Sandisk. Have you seen those? If Seagate and Micron are any example, I expect these stocks to continue ramping, even though they’re already up 61 and 122% for the year, yes, since the year began. And by the way, they were among the best 10 performers in the S&P 500 last year.

When I was on the trading desk in my old firm, I’d periodically see a stock like Sandisk trading furiously each day. And people would say, hey, how could Sandisk, Jim, go from 237 at the beginning of the year to 527 now? And I would say, you know why? Because it has to get to 800, and to do that, it’s got to go over 527. Do you know that that glib answer was invariably right?

Sandisk Corporation (NASDAQ:SNDK) sells NAND flash-based storage solutions, including solid-state drives, embedded storage, removable cards, and USB drives.