New York, Feb 9, 2026, 09:47 EST — Regular session
- Sandisk shares dropped in early Monday trading, tacking on to the wild price swings from the last two weeks.
- Chip and storage stocks slid as well, adding pressure to the sector.
- Eyes are on upcoming U.S. data later this week, as investors look for signals on interest rates and appetite for risk.
Sandisk Corp (SNDK) slid 6.7% to $557.88 in the opening stretch Monday, sinking alongside other memory stocks. As of 9:36 a.m. ET, shares had dropped $40.07 from Friday’s $597.95 finish, bouncing between $553.32 and $605.92 out of the gate.
This one’s important: Sandisk now rides the wave of the flash-memory rally, thanks to demand from AI data centers and enterprise storage. But trading’s been anything but calm. Shares hit $725 last week, then slid almost 16% the very next day. That’s how fast the script can flip. 1
Sandisk wasn’t the only name hit. Micron Technology shed roughly 5%, and both Seagate Technology and its ex-parent, Western Digital, declined as well. The VanEck Semiconductor ETF (SMH) slid around 0.4%.
Sandisk shares jumped after the company released its fiscal Q2 numbers in late January and raised guidance. For the quarter, revenue landed at $3.03 billion, with non-GAAP EPS of $6.20. Looking ahead, Sandisk projected fiscal Q3 revenue between $4.4 billion and $4.8 billion, and expects non-GAAP earnings of $12 to $14 a share. “Our structural reset to align supply with attractive, sustained demand positions us to drive disciplined growth,” said CEO David Goeckeler. 2
Sandisk and Japan’s Kioxia pushed their Yokkaichi joint venture agreement out to Dec. 31, 2034—five years later than planned, the companies said Jan. 29. Under the new terms, Sandisk will pay Kioxia $1.165 billion, making the installments between 2026 and 2029 for manufacturing services and to secure supply. Goeckeler described the tie-up as “a thriving collaboration across NAND R&D and manufacturing.” 3
SanDisk split from Western Digital in February 2025 and launched as a standalone public company, debuting on the Nasdaq with the ticker “SNDK.” “Everything starts with innovation and NAND is an incredible enabler,” CEO Goeckeler remarked then. 4
Retail traders keep piling into the memory trade, with SanDisk grabbing the No. 4 spot—a detail that caught Steve Sosnick’s eye. “Seeing SanDisk in the No. 4 slot tells us that it is more than simply a coincidence,” Sosnick, Interactive Brokers’ chief strategist, told Reuters back in mid-January. 5
NAND, the flash memory tech inside solid-state drives and other gear, sits at the center here. When the company talks about “guidance,” that’s the projection for the next quarter. “Non-GAAP” profit? That’s their earnings stripped of things like stock-based pay and a few nonrecurring charges.
Still, investors know the memory sector rarely lets them stay comfortable for long. “Memory is a highly cyclical industry,” Reuters pointed out back in January. Prices and supply? They can whip around fast—fresh capacity or a demand slowdown is all it takes. 6
Coming up, investors are eyeing U.S. economic releases that could shift bets on interest rates—crucial for growth tech names. The Labor Department lists the consumer price index for Feb. 13, set for an 8:30 a.m. ET release, after jobs numbers arrive on Feb. 11. 7
