Updated 31 October 2026. Sandisk (SNDK) closed Friday 30 October at $1,150.89, down $179.16 or 13.47 percent, on 17.6 million shares, and traded at $1,157.57 after hours (StockAnalysis). In two sessions after a quarter that beat on revenue, EPS and guidance, the stock has given back 18 percent from Wednesday’s $1,404.77 close. Verdict: the market is debating whether an 85 percent gross margin is a peak, not whether demand is there. The 8-for-1 split is three weeks out and AMD’s 3 November results are the next read on device demand. Reference levels: $1,050 below, $1,330 above.
Key facts
- Price: SNDK closed at $1,150.89 on 30 October after a $1,115.16-$1,239.00 range; after hours it was $1,157.57. It fell 7.0 percent for the week from $1,238.03 on 23 October (StockAnalysis).
- The quarter: fiscal Q1 2027 revenue of $11.03 billion against about $10.7 billion expected and non-GAAP EPS of $49.51 against estimates of about $46-$47; datacenter revenue rose 61 percent sequentially to $4.8 billion and the non-GAAP gross margin was 85.1 percent (Sandisk via Yahoo Finance, Tradingpedia).
- The guide: fiscal Q2 revenue of $12.2-$12.6 billion, a non-GAAP gross margin of 84.5-85.5 percent and EPS of $55-$57 before the split, or $6.88-$7.13 after it (Yahoo Finance).
- The worry: sequential revenue growth slowed to 23 percent from 51 percent in the prior quarter, and consumer revenue fell 29 percent to $397 million as the market adjusted to higher pricing (Investing.com, Tradingpedia).
- Cash: free cash flow of $5.7 billion and $5 billion returned through buybacks in the quarter (Rosenblatt via Investing.com).
- Split: 8-for-1, with additional shares distributed on 19 November and split-adjusted trading from 20 November (Yahoo Finance). At Friday’s close the post-split equivalent is about $143.86.
- Targets: average $2,105, median $2,025, low $1,000 and high $3,600 across 25 analysts, with a Buy consensus (StockAnalysis).
Why a beat-and-raise sold off
Sandisk’s numbers were strong by any measure: 378 percent year-over-year revenue growth, a guide that implies another 12 percent sequentially, and long-term agreements covering about half of fiscal 2027 bits and about two-thirds of fiscal 2028 (Yahoo Finance). Chief executive David Goeckeler said “our strategy is working.” The market looked at the second derivative instead. Growth slowed sharply quarter over quarter, the margin guide is flat at about 85 percent, and Tradingpedia cited investors debating whether that margin “represents a near-term peak in an unusually favorable profit cycle.” Insiders sold about 78,000 shares worth more than $121 million over 90 days (Tradingpedia).
Friday then added Intel. Its warning that high memory prices are hurting PC demand hit every memory name – Micron fell 5.30 percent – and Sandisk, the most volatile of them, fell the most. Our Micron week-ahead page covers that read-through, and our Friday Sandisk page has the results in detail.
Analysts trimmed targets but kept Buy
Goldman Sachs’ James Schneider lowered his target to $2,000 from $2,200, kept Buy and said, “We expect the stock to trade modestly higher following a strong quarter” (TipRanks). Mizuho cut to $1,900, Bank of America to $2,000 and Rosenblatt reiterated Buy at $2,400, saying the new business model is “performing better than anticipated” (Investing.com). StockAnalysis logged Cantor Fitzgerald’s C J Muse at $2,200 from $2,900, Evercore ISI’s Amit Daryanani at $2,500 from $2,800, Susquehanna’s Mehdi Hosseini at $2,720 from $2,745, Morgan Stanley’s Joseph Moore at $1,750 and Wedbush at $2,000. Every target listed sits well above Friday’s close; the cuts were about valuation, not ratings.
The week ahead and the split
Tuesday 3 November – AMD results after the close (AMD), the next read on PC and data center demand after Intel’s warning. Friday 6 November brings the October jobs report. The split mechanics – record date, distribution and what changes for holders – are on our Sandisk stock split page. A split does not change the company’s value; it lowers the price per share eightfold from 20 November.
Sandisk stock week ahead: bull, base and bear
| Scenario | SNDK (pre-split) | What has to happen | Anchor |
|---|---|---|---|
| Bear | $1,050 | AMD confirms a broad PC slowdown, the peak-margin debate dominates, and memory keeps de-rating. | About 8.8 percent below Friday’s $1,150.89 close and below Friday’s $1,115.16 low; near the $1,000 low analyst target. |
| Base | $1,115-$1,240 | Selling eases after an 18 percent two-day drop and the stock trades in Friday’s range ahead of the split. | Friday’s $1,115.16 low to its $1,239.00 high. |
| Bull | $1,330 | AMD’s data center guide revives the supply story and buyers return to a stock trading at a large discount to every published target. | Thursday’s $1,330.05 close, about 15.6 percent above Friday’s close. |
The bear case sits below Friday’s close. Prices are pre-split; divide by eight for the equivalent from 20 November. These are reference levels measured from the verified close, not forecasts.
What to watch
- $1,115.16: Friday’s low. A break would leave the stock below every level it traded at in October’s second half.
- AMD on 3 November: PC and data center commentary.
- NAND pricing: any sign that consumer price increases are slowing would feed the peak-margin view.
- 19-20 November: share distribution and the first split-adjusted session.
Quick take: Sandisk closed at $1,150.89 on Friday, down 13.47 percent and 18 percent in two sessions, after a quarter that beat on every line but showed growth slowing and margins flat near 85 percent. Analysts trimmed targets to $1,900-$2,720 and kept Buy. Expect $1,115-$1,240 before the 8-for-1 split; $1,050 if AMD confirms the PC slump, $1,330 if the supply story returns.
FAQ
What is Sandisk’s stock price today?
Sandisk closed at $1,150.89 on Friday 30 October 2026, down 13.47 percent, and traded at $1,157.57 after hours (StockAnalysis).
Why did Sandisk stock drop after earnings?
Revenue and EPS beat, but sequential growth slowed to 23 percent from 51 percent, the margin guide was flat near 85 percent, and Intel’s warning about memory costs hit the whole memory group on Friday.
When is the Sandisk stock split?
The 8-for-1 split distributes additional shares on 19 November 2026, and split-adjusted trading begins on 20 November.
What will Sandisk stock cost after the split?
One-eighth of the pre-split price. At Friday’s $1,150.89 close that is about $143.86.
What is the Sandisk stock price target?
The average analyst target is $2,105 and the median $2,025 across 25 analysts (StockAnalysis). Goldman Sachs cut to $2,000, Mizuho to $1,900 and Bank of America to $2,000; Rosenblatt kept $2,400.
What did Sandisk guide for next quarter?
Revenue of $12.2-$12.6 billion, a non-GAAP gross margin of 84.5-85.5 percent and EPS of $55-$57 pre-split.
Sources: StockAnalysis (30 October close, range, volume, after-hours price, weekly change, analyst targets and rating changes); Sandisk fiscal Q1 2027 results and call via Yahoo Finance and Investing.com; Tradingpedia (estimates, margin debate, insider sales); TipRanks (Goldman Sachs); Investing.com (Rosenblatt, Mizuho, Bank of America); AMD investor relations (results date).
Disclaimer: This article is for informational purposes only and does not constitute financial or investment advice. Stock prices are volatile. Do your own research and consult a licensed financial adviser before making investment decisions.
