Sandisk is a Buy, offering a high-margin, AI-driven storage play with multi-year demand visibility and a zero-debt balance sheet. SNDK's Q3 FY26 saw 251% YoY revenue growth, 78.4% gross margin, and a transformative shift toward data center and AI infrastructure revenue. Multi-year NBM agreements and $41.6B in remaining performance obligations underpin future cash flow visibility, reducing typical NAND cyclicality.