SanDisk Corp (SNDK): Today's Featured Computer Hardware Winner

Editor's Note: Any reference to TheStreet Ratings and its underlying recommendation does not reflect the opinion of TheStreet, Inc. or any of its contributors including Jim Cramer or Stephanie Link.

SanDisk ( SNDK) pushed the Computer Hardware industry higher today making it today's featured computer hardware winner. The industry as a whole closed the day up 1.1%. By the end of trading, SanDisk rose $0.78 (1.1%) to $75.31 on average volume. Throughout the day, 3,426,917 shares of SanDisk exchanged hands as compared to its average daily volume of 3,919,100 shares. The stock ranged in a price between $73.89-$75.50 after having opened the day at $74.31 as compared to the previous trading day's close of $74.53. Other companies within the Computer Hardware industry that increased today were: Aruba Networks ( ARUN), up 6.0%, 3D Systems Corporation ( DDD), up 5.9%, Identive Group ( INVE), up 4.9% and Datalink Corporation ( DTLK), up 4.3%.

27% of NAND flash memory market in 2002. That's the #1 spot. Company is vertically-intergrated, does own distribution. Has 50,000 retail outlets worldwide. New areas to watch are MLC (multilevel cell storage) and USB flash drives (replacing floppys). SanDisk has a market cap of $16.8 billion and is part of the technology sector. Shares are up 5.7% year to date as of the close of trading on Wednesday. Currently there are 13 analysts that rate SanDisk a buy, 3 analysts rate it a sell, and 5 rate it a hold.

TheStreet Ratings rates SanDisk as a buy. The company's strengths can be seen in multiple areas, such as its revenue growth, largely solid financial position with reasonable debt levels by most measures, impressive record of earnings per share growth, compelling growth in net income and good cash flow from operations. Although no company is perfect, currently we do not see any significant weaknesses which are likely to detract from the generally positive outlook.

On the negative front, Cray ( CRAY), down 2.9%, Mad Catz Interactive ( MCZ), down 2.3% and Echelon Corporation ( ELON), down 1.8% , were all laggards within the computer hardware industry with Synaptics ( SYNA) being today's computer hardware industry laggard.

For investors not wanting singular stock exposure, ETFs may be of interest. Investors who are bullish on the computer hardware industry could consider iShares Dow Jones US Technology ( IYW) while those bearish on the computer hardware industry could consider ProShares Ultra Short Semiconductor ( SSG).

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