$SanDisk Corp.(SNDK)$ It's getting interesting again. The stock is nearly 50% below its recent high, yet the underlying cash generation is hard to ignore. The company just produced roughly $7.1B in quarterly free cash flow, or around $45.70 per share. Obviously, I wouldn't assume that level of FCF is going to repeat every quarter. Memory is cyclical, and the numbers can swing quickly. That's the part I'm watching closely. But if even a fraction of this cash-generation strength proves durable, the current valuation starts looking a lot more interesting to me. After a big drawdown, I'd rather focus on what the business is actually generating than simply stare at the chart. The key now is whether the fundamentals can support the recovery. Let's see how it closes.
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