NEW YORK, July 27, 2026, 11:10 EDT — U.S. regular session. Sandisk NASDAQ:SNDK shares were down 11% in U.S. regular trading after Wall Street estimates for earnings per share exceeded the company’s stated guidance.
- At 10:54 a.m. EDT, shares were down 10.7% at $1,282.55.
- The session shifted from a 5.3% increase to a 14.5% decline.
- The preliminary EPS consensus stands at $33.38, which is above the management’s upper guidance limit of $33.
Sandisk Corporation NASDAQ:SNDK dropped 10.7% to $1,282.55 as of 10:54 a.m. EDT Monday, after opening at $1,456.01.
The price climbed to $1,512.94 before falling to $1,228.11, marking a 19.8 percentage point move compared to Friday’s closing level.
The move came after shares rose 4.2% before the opening bell. Early purchases were seen, but the overall chip sector rally later lost momentum.
This development is significant as Sandisk is set to announce its fiscal fourth-quarter results on Aug. 5. Investors currently anticipate results close to the upper end of the company’s forecast.
Initial estimates may be revised ahead of the report:
| Fiscal Q4 metric | Sandisk guidance | Preliminary consensus | Consensus vs midpoint |
|---|---|---|---|
| Revenue | $7.75 billion-$8.25 billion | $8.24 billion | +3.0% |
| Adjusted EPS | $30.00-$33.00 | $33.38 | +6.0% |
Sandisk announced its range on April 30. Benzinga provided Monday’s consensus snapshot.
The EPS projection is 38 cents higher than the top end of the guidance. Revenue falls just $10 million short of the range’s upper limit.
This leaves limited scope for a straightforward beat. EPS could exceed the midpoint yet fall short of consensus.
The PHLX Semiconductor Index dropped 3.9%, after earlier climbing 1.1%. Twenty-seven out of thirty of its components were down.
| Company | Price | Session move | Reported P/E |
|---|---|---|---|
| Sandisk Corporation NASDAQ:SNDK | $1,282.55 | down 10.7% | 44.6x |
| Micron Technology NASDAQ:MU | $877.34 | off 4.7% | 19.9x |
| Western Digital Corporation NASDAQ:WDC | $484.57 | declined 6.8% | 29.0x |
Data from the market were collected from 10:54 to 10:55 a.m. EDT.
Sandisk dropped 2.3 times more than Micron, and 1.6 times more than Western Digital. The company’s reported P/E stood roughly 125% higher than Micron’s.
The underlying performance stays robust. Revenue for the fiscal third quarter jumped 97% from the previous quarter to $5.95 billion. Adjusted earnings per share totaled $23.41.
Datacenter revenue rose 233% from the previous quarter to reach $1.47 billion. By the start of fiscal Q4, Sandisk had finalized five multiyear customer contracts.
Chief Executive David Goeckeler described Q3 as a “fundamental inflection point.” According to him, the new model is producing “structurally higher and more durable earnings power.” SEC
Motley Fool analyst Marc Guberti said Sunday, “Expect a beat-and-raise type of quarter.” Guberti pointed to Sandisk’s latest beats and robust memory demand as reasons for his outlook. The Motley Fool
A Seeking Alpha column published on July 23 presented an opposing perspective, referencing concerns about peak-cycle valuations, AI-driven memory compression, and potential demand risks.
Sandisk will hold its earnings call on Aug. 5 at 4:30 p.m. EDT. The company’s Investor Day is scheduled for Aug. 13 at 9 a.m. EDT.
Risks: Sandisk highlights unpredictable pricing, cyclical sales patterns, and the risk of inaccurate forecasts. Reduced demand or difficulties fulfilling long-term contracts may impact margins.
Monday’s session presents a difficult challenge. Buying interest may remain high even as the share price declines.
Sandisk is required to surpass expectations that are currently set higher than its stated EPS range.
Related articles: NASDAQ:SNDK
