Jim Cramer Highlights Sandisk One of the Storage Plays "That Had Been Red Hot But Suddenly Turned Ice Cold"

Sandisk Corporation (NASDAQ:SNDK) is one of the stocks Jim Cramer recently shed light on. During the episode, Cramer highlighted Sandisk as one of the stocks that set the tone for the market before NVIDIA moved. He stated:

“Yesterday, everyone thought the only tell was, matter was NVIDIA, right? Well, when it turned down, they thought it was the end. That was wrong. What actually led us down yesterday were the stocks of Micron and Sandisk, two plain vanilla tech storage plays that had been red hot but suddenly turned ice cold. They plummeted, and then and only then did NVIDIA give up the ghost. So I knew to watch the action in those two as a prelude to any rally…

I knew that once Micron and Sandisk, the two that had led us down yesterday, went lower and then reversed, well, then I knew we’d be home free. That’s what led us down yesterday, not NVIDIA. The crescendo was happening right in front of me. Then, when NVIDIA started printing higher highs and higher lows after a horrendous opening, it was a run for the roses.”

Sandisk Corporation (NASDAQ:SNDK) sells NAND flash-based storage solutions, including solid-state drives, embedded storage, removable cards, and USB drives.

While we acknowledge the potential of SNDK as an investment, we believe certain AI stocks offer greater upside potential and carry less downside risk. If you're looking for an extremely undervalued AI stock that also stands to benefit significantly from Trump-era tariffs and the onshoring trend, see our free report on the best short-term AI stock.

READ NEXT: 30 Stocks That Should Double in 3 Years and 11 Hidden AI Stocks to Buy Right Now.

Disclosure: None. This article is originally published at Insider Monkey.