New York, January 26, 2026, 17:42 EST — After-hours
- SNDK slipped 0.6% and fell further in after-hours trading
- Morgan Stanley and Cantor Fitzgerald bumped up their price targets ahead of the earnings release
- Options markets reflect expectations of a sharp move following earnings
Sandisk Corp shares dipped on Monday and slid further in after-hours trading, despite Morgan Stanley and Cantor Fitzgerald pushing up their price targets on the flash-memory producer ahead of this week’s earnings. The stock finished the day down 0.6% at $470.80 and dropped another 0.6% to $467.89 in extended trading, after fluctuating between $454.33 and $494.70 during the session.
Sandisk’s upcoming results will offer a new glimpse into NAND flash—the memory chips powering solid-state drives and other storage—after a rollercoaster in pricing. The company is set to host its fiscal second-quarter earnings call on Thursday, Jan. 29, at 1:30 p.m. Pacific.
Options trading is signaling a warning. GuruFocus noted that options pricing suggests a 50% probability the stock will swing more than 13.87% — roughly $65.59 — after the earnings report.
Morgan Stanley’s Joseph Moore bumped his price target to $483 from $273, maintaining an Overweight rating—indicating he expects the stock to beat its peers. He highlighted “exceptional” NAND fundamentals, driven by a spike in enterprise solid-state drives that’s also squeezing consumer markets, according to TipRanks. TipRanks
Sandisk spun off from Western Digital last year and started trading independently on Nasdaq under the ticker SNDK, the company announced at the time. It offers storage products based on NAND flash technology, serving both consumer and enterprise sectors.
Tradr ETFs plans to roll out a 2x leveraged Sandisk ETF on Cboe this Tuesday, joining similar offerings linked to Lumentum and Western Digital. Since leveraged ETFs reset daily, they can exaggerate price swings when the underlying stocks are volatile.
Sandisk operates in a fiercely competitive space, alongside memory-focused rivals like Micron and storage giants Western Digital and Seagate. The dynamic is straightforward: enterprise demand remains solid, yet consumer electronics can shift gears abruptly.
The risk lies in pricing momentum losing steam or volumes falling short. NAND is inherently cyclical, and any sign of new supply, cautious buyers, or squeezed margins could quickly unravel a crowded trade.
Thursday brings the latest results and outlook. Traders will focus on management’s take on pricing, unit volumes, and margins for the March quarter — and whether their tone aligns with the sharp target hikes seen this morning.
