Key Stats for Sandisk Stock
- Price change for Sandisk stock Today: 5%
- $SNDK Share Price as of Mar. 4: $599
- 52-Week High: $725
- $SNDK Stock Price Target: $724
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What Happened?
SanDisk (SNDK) stock dropped 9% on Tuesday and surged 5% yesterday amid a broad market selloff.
The decline came despite the storage giant reporting blowout Q2 results just a month ago, with revenue of $3 billion and earnings per share of $6.20, crushing expectations.
The selloff hit the entire memory sector, with Micron and Western Digital down more than 8%, and Seagate falling over 7%. Semiconductor equipment makers also took hits, declining more than 6%.
SanDisk stock appears to be caught in a broader risk-off move, hitting global chip and memory-related stocks following a sharp selloff in South Korea’s market, which is home to major memory players.
The decline also comes after a recent high-profile bearish short thesis reignited concerns about the cyclical nature of NAND pricing, despite current supply shortages.
The timing is notable given SanDisk’s exceptional recent performance.
SanDisk had been the best-performing stock in the S&P 500 for 2026, thanks to an artificial intelligence-driven shortage in memory chips.
Just last month, SanDisk issued stunning Q3 guidance calling for revenue between $4.4 billion and $4.8 billion with gross margins of 65% to 67%.
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What the Market Is Telling Us About Sandisk Stock
The sharp drop in SanDisk stock suggests investors are taking profits after the massive rally and reassessing risks in the memory sector.
During the recent earnings call, CEO David Goeckeler emphasized that the company is in the “early stages” of evolving toward multiyear supply agreements with customers rather than quarterly price negotiations.
Management highlighted that the data center market will be the largest NAND market in 2026, driven by AI infrastructure buildout.
The company reported 64% sequential growth in data center revenue and expects exabyte demand in that segment to grow at a high-60s percent rate in 2026, up from prior forecasts in the mid-40s.
SanDisk stock had benefited from tight supply-demand dynamics and disciplined capital allocation.
The company extended its joint venture with Kioxia through 2034 and has maintained plans for mid-to-high-teens bit growth without increasing capital expenditure plans, despite surging demand.
However, concerns about NAND’s cyclical pricing history may be adding to near-term pressure.
Some analysts worry that current elevated pricing may not be sustainable despite management’s confidence in structural market changes driven by AI demand.
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Disclaimer:
Please note that the articles on TIKR are not intended to serve as investment or financial advice from TIKR or our content team, nor are they recommendations to buy or sell any stocks. We create our content based on TIKR Terminal’s investment data and analysts’ estimates. Our analysis might not include recent company news or important updates. TIKR has no position in any stocks mentioned. Thank you for reading, and happy investing!
