$SanDisk Corp.(SNDK)$ Estimates suggest the company could generate over 100,000M in free cash flow by 2029. If a meaningful portion of that goes toward buybacks, the share count could shrink considerably, which would push earnings per share much higher.
The market seems to be pricing in the end of the NAND supercycle, but what if long-term contracts end up sustaining margins and cash generation anyway?
The numbers still need to be confirmed, but if Sandisk actually delivers, this could turn into a major revaluation opportunity that the market hasn't fully recognized yet.
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