Sandisk’s 16.8% surge: earnings support upside, but size carefully

I’m bullish, but I would not infer a cause from one session. The +16.81% move to $1,004.53 is sharp, yet it follows declines of 32.2% over one month and 34.3% over three months, so it has not erased the recent downtrend. Fundamentals are compelling: Q3 EPS was $49.510, 6.7% above estimates, and consensus projects FY 2027 EPS of $227.481 (+220.9%) and FY 2028 EPS of $289.054 (+27.1%). At the current price, those imply forward P/Es of 4.4x and 3.5x; trailing P/E is 8.0x. The growth deceleration and lack of actual revision history argue against chasing aggressively, but the valuation and forecast earnings make the move look supportable rather than plainly excessive. I’m initiating a modest position.