๐ SanDisk $SNDK down ~13% today โ 2026's hottest stock in a brutal AI correction
SanDisk ($SNDK) was the S&P 500's single best performer of 2026, surging 6,000%+ from its spinoff price โ but the AI memory trade is unwinding hard. The stock tumbled roughly 13% today and is now down over 30% from its all-time high. The culprit: mounting fears that AI hyperscalers could start pulling back on data center infrastructure spending, plus a weak SK Hynix earnings preview dragging the entire NAND/memory sector lower. Fellow AI names AppLovin ($APP) and Astera Labs ($ALAB) each fell ~12% in the same rout. Is this a healthy rotation and buying opportunity, or the beginning of a longer AI hardware correction? Not financial advice.
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