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SNDK · Analysis updated Nov 5, 2026, 9:47 AM ET
Why is Sandisk (SNDK) stock moving?
Sandisk reported a strong fiscal Q1 2027. Revenue was $11.03B, up 378% year over year, non-GAAP gross margin was 85.1%, and EPS was $49.51 against a $47.15 consensus. Data center revenue rose 61% sequentially to $4.8B. Q2 guidance of $12.2B-$12.6B revenue and $55-$57 EPS sits above the Q1 figures, and about 50% of fiscal 2027 bits are under long-term agreements. The stock has fallen anyway. It dropped from $1,330 on Oct 29 to $1,037 on Nov 4, and the Oct 30 drop came on volume of 912,735, about double the recent norm. Reported drivers are election-related worries, a cautious forecast from Kioxia, memory price concerns, a Fox Advisors downgrade to Hold on Nov 2, and rotation out of memory names. Micron and Western Digital fell 7% on Nov 4 while the Nasdaq-100 rose, so the weakness is specific to memory. The stock is about 56% below its 52-week high of $2,354.39 but is still up about 350% year to date. Valuation is low on earnings (P/E about 8.5), analysts remain mostly Buy, and the average target is about $2,080. Beta is 2.67, so moves are large. An 8-for-1 split is expected around Nov 19-20. Short-term momentum is clearly negative, while the fundamentals are strong, which gives a mixed picture.
News behind the analysis
- SanDisk Retreats 9%, Micron and Western Digital Fall 7% as Election and Memory Price Worries WeighMemory and storage stocks fell on Nov 4 while the broader tech market rallied. SanDisk led the retreat but is still up about 353% year to date.
- Sandisk Q1 Earnings Call HighlightsFiscal Q1 revenue was $11B, up 378% year over year. Non-GAAP gross margin was 85.1%, adjusted free cash flow was $5.7B, and the company repurchased $5B of stock.
- SanDisk Q1 2027 Earnings: Revenue Surges 378% as Company Announces 8-for-1 Stock SplitQ1 revenue was $11.03B with an 85.0% GAAP gross margin. An 8-for-1 forward split is scheduled for November.
- Sandisk (SNDK) Earnings Date & ReportEPS of $49.51 beat the $47.15 estimate, yet shares fell 7.8%. Q2 guidance is $12.2B-$12.6B revenue and $55-$57 EPS.
- Earnings call transcript: Sandisk beats Q1 2027 estimates, shares fallAdjusted EPS was 5.0% above forecasts and revenue 2.8% ahead. The stock fell anyway.
- SNDK Q1 FY2027 earnings call — BigGo FinanceData center revenue rose 61% sequentially to $4.8B. About 50% of fiscal 2027 bits and two-thirds of fiscal 2028 bits are under long-term agreements.
- Sandisk Q1 FY2027 Earnings: Datacenter Growth Drives Revenue HigherGAAP diluted EPS was $52.60. Operating cash flow was $6.36B, which supported $5.0B of buybacks.
- SanDisk Corp (SNDK) Stock Price & News - Google FinanceFox Advisors downgraded the stock to Hold on Nov 2. Bernstein kept a Buy with a $3,000 target on Nov 3, and Wedbush and Cantor reiterated Buy ratings.
- SanDisk Corp. (SNDK): Exiting the Memory Space After Momentum ReversalOne fund sold its Sandisk position, citing the cyclical nature of memory. Another manager added the stock as an AI infrastructure beneficiary.
- SanDisk Corp (SNDK) Stock Price, Quote & AnalysisThe 52-week range is $183.00-$2,354.39. Beta is 2.67 and P/E is 8.5. Cboe data showed mixed options sentiment.