$SNDK

South Korea's KOSPI index rose 2.82% to 5,808.25, recovering from a 3.6% drop the prior day, driven by semiconductor stocks. The Philadelphia Semiconductor Index surged 2.63%, with Micron and SK Hynix ADRs gaining. Samsung Electronics and SK Hynix also saw gains. Foreign investors were net buyers, while retail and institutional investors sold. The KOSDAQ index rose 1.57%, with semiconductor-related stocks leading. Market participants remain cautious ahead of U.S. midterm election results.

Shek Bernard (Chief Legal Officer and Secty) sold 600 shares of Sandisk Corp (SNDK) at $1158.26 ($0.69M total) on 2026-11-02 under a Rule 10b5-1 trading plan.

Sandisk (SNDK) shares rose 385% since January but fell 43% since July. Q1 2027 revenue was $11B (up 23% QoQ, 378% YoY), beating estimates, but earnings missed expectations, causing a sell-off. Data center revenue surged 1,700% YoY, but slower growth is expected next quarter.

Wall Street ended October with a tech sell-off, led by a 5.3% Nasdaq decline. Intel dropped 28.58% on weak guidance, while Alphabet lost $500B in market value after missing revenue estimates. Investors shifted to defensive sectors like consumer staples and healthcare. Concerns focus on AI's financial viability and high debt levels in neoclouds like CoreWeave and Nebius.

Sandisk (SNDK) and AMD (AMD) both saw significant stock price drops, with SNDK falling 37.49% and AMD 26.36% in the past month. SNDK's Q1 2027 revenue rose 377.9% YoY, driven by higher pricing and datacenter sales, while AMD's revenue increased 50.1%, with data center contributing 58%. SNDK's dependence on NAND pricing and consumer market volatility makes it riskier than AMD, which has a diversified product mix and strong demand for its AI-related products.

SanDisk (SNDK) stock rose 6.5% Tuesday as investors rebounded from prior losses, despite a cautious NAND flash price outlook from partner Kioxia. SanDisk's Q1 revenue was $11.03B, up 378% YoY, with data-center sales up 61%. Analysts remain mostly bullish, and an 8-for-1 stock split is planned. Broader chip sector gains also supported the rally.

Kioxia and Sandisk, NAND fab partners, differ on SK Hynix's High-Bandwidth Flash (HBF) initiative. Sandisk supports HBF, while Kioxia remains neutral, pursuing alternative architectures. Sandisk, lacking independent fabs, may need separate HBF production, potentially straining its partnership with Kioxia. Kioxia plans high-speed NAND alternatives, including CXL modules. SK Hynix, an investor in Kioxia, suggests a partnership, but Kioxia's CEO opposes the idea.

Sandisk (SNDK) stock fell 24% in October despite strong Q1 2027 results, with revenue up 378% YoY and gross margin at 85.1%. Growth is driven by data center demand, with revenue up 1,682% YoY. The company is securing long-term revenue with NBM agreements and plans an 8-for-1 stock split on Nov. 19.

US pre-market trading on Nov. 3 saw memory chip stocks rally, with SanDisk (SNDK) and Micron (MU) each up over 3%. Apple (AAPL) fell over 4% despite record earnings. Chip and optical communications stocks rebounded after prior losses, while oil and precious metals traded in narrow ranges.

Fox Advisors downgraded SanDisk from Overweight to Equal-Weight. Recent analyst price targets for SanDisk range from $1300 to $2720. The company's stock is the subject of recent analyst actions.