Flash Memory Technology
Financial Tides thinks that Flash Memory Technology is the play of the day. Sandisk Corporation ( SNDK ) designs, manufactures, and markets flash memory storage products that are used in a wide variety of electronic systems. The company have designed flash memory storage solutions to address the storage requirements of emerging applications in the consumer electronics and industrial/communications markets. Its products are used in a number of rapidly growing consumer electronics applications, such as digital cameras, personal digital assistants, portable digital music players,digital video recorders and smart phones.
Sandisk has a leg up on all the other players with their products used in Apple's I-Pad, Amazon's Kindle and many of the widely used smart phones.
The stock is a 100% Barchart technical buy with all 13 technical indicators giving a buy signal. The stock has been up in all of the last 5 sessions and had a 11.55% price appreciation in the past week alone. The stock trades around 44.77 with a 50 day moving average of 38.53.
Wall Street analysts see fundamental strength in the numbers with increases in both sales and earnings forecasted. They have published 11 buy and 7 hold recommendations based on an expected sales increase of 35.70% this year and 10.40% next year. Earnings growth on a 5 year annual compounded basis is expected to be 17.50% per year.
The investing public has taken notice with the CAPS members on Motley Fool betting the the stock will out perform the market by a vote of 1649 to 142 and the All Stars agree 470 to 29.
The stock is a buy right now because of :
1 - Recent and consistent price appreciation
2 - A Barchart technical buy score of 100%
3 - Wall Street recommending a buy to their clients and predicting increases in both sales and earnings
4 - A wide and positive investor sentiment
Jim Van Meerten is an investor who writes on financial matters on Barchart, Seeking Alpha and Financial Tides. Please leave a comment below or email JimVanMeerten@gmail.com
Disclosure : no positions in SNDK at the time of publication