On average, companies underperform the market after being added to the S&P 500. Sandisk proves there are exceptions.

In November last year, the flash storage manufacturer $SNDK was added to the index with a market cap of $30B . This year it's the best-performing stock in the index, and its valuation has reached $300B.

AI-driven demand for memory will help the company earn $10B in profit this year after 3 years of losses. And in 2027, that figure is expected to hit $30B.