New York, March 3, 2026, 4:17 PM EST — After-hours
- Sandisk (SNDK) dropped 8.6%, trading at $565.28 after hours.
- Memory and storage stocks dropped along with the rest of the market, pressured as oil surged amid escalating tensions with Iran.
- Sandisk’s turn at the Morgan Stanley conference is on investors’ radar for later Tuesday, with Friday’s U.S. jobs report also in focus.
Sandisk Corporation dropped 8.6% Tuesday, sliding to $565.28 in after-hours trade, with memory and storage names taking a hit during a broader market selloff.
The drop is notable: Sandisk has turned into a packed bet on AI-themed data-center demand, and those crowded trades tend to unravel quickly once investors start pulling back.
The recent jump in oil prices is reigniting inflation jitters on the tape. High-growth tech stocks—particularly those that have seen rapid gains and trade on pure momentum—usually take the brunt of that pressure.
Sandisk shares swung from $557.13 to $593.33 during regular hours, with roughly 20.3 million shares traded, according to market data. Micron Technology slipped about 8%, while Western Digital dropped nearly 7% over that stretch.
U.S. equities slipped, with traders weighing the possibility that the conflict in the Middle East could drag on longer than Wall Street initially anticipated. “Investors are growing anxious about the duration of the war and its impact on energy prices,” said Joseph Tanious, chief investment strategist at Northern Trust Asset Management. Jed Ellerbroek at Argent Capital described the market’s response as “very tame” so far. https://www.reuters.com/business/wall-st-f…
Crude prices jumped 4.7%, notching their strongest finish since January 2025. Brent ended the day at $81.40 a barrel, while U.S. WTI wrapped up at $74.56, according to Reuters. That surge only sharpened investor worries over inflation and the uncertain outlook for rates hanging over stocks. https://www.reuters.com/business/energy/oi…
Investors eyeing Sandisk have something coming up soon—management is set to speak at the Morgan Stanley Technology, Media & Telecom Conference, with their presentation on the docket for 7:50 p.m. ET. https://www.nasdaq.com/press-release/sandi…
Sandisk back in late January put out a forecast for its fiscal third-quarter, pegging revenue between $4.4 billion and $4.8 billion, with adjusted earnings coming in at $12 to $14 a share. The company also announced it had pushed its flash supply agreement with Kioxia out to 2034. Morgan Stanley analysts at the time said the earnings were “above the long-term trend,” but added they’d probably “stay that way for more than one year.” https://www.reuters.com/business/sandisk-s…
Shareholder selling has also weighed on the stock, much of it stemming from the split with Western Digital. Back in February, Western Digital announced plans to exchange 5.8 million Sandisk shares for debt, pricing the deal at $3.17 billion. That move is part of the company’s broader effort to pare down debt and, further out, offload its remaining stake. https://www.reuters.com/business/western-d…
The mood can shift in a hurry. Should oil prices ease or news out of the conflict lose urgency, some of Tuesday’s selling might reverse course. Thin after-hours volumes, though, have a way of amplifying swings both ways.
Investors will be watching for Sandisk’s remarks at the Morgan Stanley conference set for later Tuesday, while Friday brings the U.S. employment report, scheduled for release March 6 at 8:30 a.m. ET. That data has the potential to shake up rate bets and risk sentiment heading into next week. https://www.bls.gov/news.release/empsit.nr…
