New York, Feb 5, 2026, 09:37 EST — Regular session
- Sandisk shares dipped in early trading following a steep drop the previous day.
- Chip stocks fell further as the tech sell-off accelerated.
- Volatility, insider-sale filings, and potential price-target resets are all under close watch by traders.
Shares of Sandisk Corporation slipped roughly 1.4% to $576.17 on Thursday, after fluctuating between $562.10 and $584.55 in early trade. (Investing)
The shift is significant since Sandisk has become a crowded, high-beta play on the data-center expansion, and expensive tech is falling out of favor. “The stock market is having a really hard knowing where to price the stocks,” said Jed Ellerbroek, a portfolio manager at Argent Capital Management, as concerns over AI-driven returns weigh on the sector. (Reuters)
For Sandisk shareholders, it’s not just one headline driving the moves—it’s how quickly sentiment can turn after such a rapid run-up. Small changes in risk appetite can trigger sharp gaps.
Wednesday served as a stark reminder. Sandisk tumbled 15.95%, ending at $584.55 after hitting an intraday peak of $662.79. Roughly 29 million shares changed hands, per Investing.com data. (Investing)
The selling wasn’t confined to one area. The iShares Semiconductor ETF dropped roughly 4.3%, and the Nasdaq-focused Invesco QQQ Trust slipped around 1.8%. Shares of Micron, Western Digital, and Seagate also dipped in early trading.
Since splitting from Western Digital last year, Sandisk has emerged as a top momentum stock. Its shares surged from about $45 to nearly $665 in just six months, according to the Financial Times.
Last week, the company’s own forecast sparked the move. Sandisk expects fiscal third-quarter revenue between $4.4 billion and $4.8 billion, with adjusted earnings of $12 to $14 per share, Reuters reported. This follows its extension of the flash-chip supply deal with Japan’s Kioxia through 2034. Morgan Stanley analysts noted that earnings seem “likely to stay that way for more than one year” provided AI demand remains strong. (Reuters)
Wall Street’s price targets have swung sharply. Sandisk’s average one-year price target jumped to $625.79 from $292.97 in early January, Fintel data on Nasdaq’s site shows. (Nasdaq)
A Form 144 filing spotlighted insider moves, showing the Massengill Living Trust intends to sell 2,000 shares through Morgan Stanley. An amendment to that notice was posted Feb. 3, according to the company’s filings page. (Streetinsider)
The risk is straightforward: Sandisk’s upside hinges on tight NAND flash supply and strong pricing driven by data-center demand. If prices dip or supply ramps up sooner than anticipated, the stock’s current valuation offers almost no cushion for disappointment.
Traders are now eyeing a potential rebound in chip stocks following a two-day tech downturn, while also scanning for fresh broker updates that could shift the earnings narrative. Sandisk’s next earnings report is slated sometime between April 23 and May 4, according to market calendars. (Market Chameleon)
