New York, Feb 9, 2026, 16:15 (EST) — After-hours
Sandisk Corp dropped 2.4% to close at $583.35 on Monday, after whipsawing between $553.32 and $605.92 during the session. Roughly 14.7 million shares changed hands.
Sandisk shares are cooling off following a rapid surge that’s turned the stock into a go-to for traders wagering on AI-driven data-center demand and shifts in memory prices. Even after the latest drop, it’s still up roughly 152% for 2026. 1
Stocks found their footing, though anxiety over rates lingered beneath the surface. “You’ve a sharply oversold market where a little bit of good news can go a long way,” said Keith Lerner, chief investment officer at Truist Advisory Services. Investors are watching upcoming U.S. data for clues on the Federal Reserve’s next steps. 2
The storage-and-memory space saw uneven action. Micron Technology dropped 2.8%. Western Digital, on the other hand, picked up 1.3% during the session.
Sandisk, a seller of NAND flash—the non-volatile memory found in solid-state drives—jumpstarted the rally in late January, projecting fiscal third-quarter revenue with a midpoint at $4.6 billion and adjusted earnings of $14 per share, both topping Wall Street targets, according to Reuters. CEO David Goeckeler told Reuters that AI is pushing up demand for flash storage as well, despite DRAM—the quick, processor-adjacent memory—remaining the tightest part of the market. 3
Sandisk delivered earnings that Morgan Stanley analysts called “above the long-term trend,” and they suggested that level could persist “for more than one year” so long as the AI expansion holds up. Sandisk and Japan’s Kioxia, according to Reuters, have pushed their flash-chip supply deal out to 2034. 4
The company started trading solo on Nasdaq back in February 2025, following its split from Western Digital. Shares now trade under “SNDK,” according to the company. 5
Monday’s decline seemed driven by positioning rather than any new take on the fundamentals. The wild intraday swings spoke for themselves.
Still, that shortage story fueling the surge can flip without warning. If supply starts to close the gap—or if there’s even a hint that cloud spending is losing steam—stretched expectations could get slammed fast.
On the macro front, eyes are turning to the U.S. Employment Situation report, set for Feb. 11 at 8:30 a.m. ET, with the Consumer Price Index following two days later, also at 8:30. Both data points have the power to shift yields—moves that can ripple through high-volatility tech stocks such as Sandisk. 6
