SanDisk stock sinks as revenue forecast falls short of expectations
Ines Ferré· Senior Business Reporter
Thu, August 6, 2026 at 1:58 AM GMT+5:30
2 min read
- SNDK
-5.40%
What happened:Sandisk (SNDK) stock sank 4% in after-hours trading on <a href="https://todaytrendnews7.com/cardinals-jordan-walker-remains-out-wednesday/” title=”Cardinals' Jordan Walker: Remains out Wednesday”>Wednesday
What’s behind the move:The flash memory and storage manufacturer issued revenue guidance for the company’s fiscal first quarter that came in below analyst expectations
The company expects Q1 revenue of $10.3 billion to $10.8 billion, versus estimates of $11.16 billion
SanDisk said fiscal fourth quarter revenue was $8.79 billion, beating Wall Street consensus estimates of $8.64 billion. The company noted that revenue growth came from approximately one-third higher volumes and two-thirds higher pricing
SanDisk also delivered adjusted earnings per share of $39.25, topping estimates of $34.37. The forecast for adjusted earnings per share for the current quarter was between $44 and $46, versus estimates of $45.58
SanDisk also expanded its share repurchase authorization by approving an additional $14 billion buyback program
(SNDK)
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1,350.50-77.12(-5.40%)
At close: 4:00:01 PM EDT
What else you need to know: Sandisk, which spun off from Western Digital (WDC) in February 2025, has been one of the stock market’s biggest winners this year as memory and storage have emerged as key bottlenecks in the AI infrastructure build-out
The stock is up nearly 490% year to date and has been the best performer in the S&P 500 (^GSPC) since the start of 2026
Wall Street has 25 Buy ratings on the stock, 5 Holds, and no Sells, with the average price target just north of $2,400
Earlier this week, Sandisk shares jumped after the company, in collaboration with memory maker SK Hynix (SKHY), released a new hardware blueprint designed to make AI chips faster and cheaper to run. By creating a shared standard for high-speed memory, the partnership aims to reduce data center costs and accelerate the rollout of advanced AI apps
Ines Ferre is a senior business reporter for Yahoo Finance. Follow her on X at@ines_ferre
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