SanDisk shares plunge 13% after earnings beat as Kioxia warns flash price surge fading
SanDisk reported fiscal first‑quarter revenue of $11.03 billion, up 23% sequentially, and non‑GAAP EPS of $49.51, both beating consensus. The next‑quarter revenue guide was $12.2‑$12.6 billion, implying about 12% growth at the midpoint. The sell‑off was triggered by partner Kioxia’s warning that AI‑driven flash price gains are fading, which sent SanDisk down 13.5% on Friday. Memory‑chip peers Micron and the Roundhill Memory ETF rebounded 2‑3% the following day.
Why it matters
The drop erased roughly $39 billion of market value, highlighting investors’ sensitivity to pricing trends in flash memory (the company noted pricing contributed only about 40% of its 23% revenue gain). The sector rebound suggests short‑term buying interest despite the broader pricing slowdown.
Key facts
- 1SanDisk shares fell 13.47% to $1,150.89 on Friday, October 30. finance.yahoo.com
- 2Revenue was $11.03 billion, up 23% sequentially, above the $10.3‑$10.8 billion guidance. finance.yahoo.com
- 3Non‑GAAP EPS was $49.51, beating the $44‑$46 guide. finance.yahoo.com
- 4Second‑quarter revenue guidance is $12.2‑$12.6 billion, about 12% growth at the midpoint. finance.yahoo.com
- 5Kioxia warned that the AI‑driven flash price surge is fading, prompting the sell‑off. finance.yahoo.com
- 6Micron and the Roundhill Memory ETF each rose about 2.4%‑2.7% in overnight trading after the sell‑off. finance.biggo.com
Summary written by AlphAI AI Desk from 4 of 4 sources. Not investment advice. Figures are as stated by the linked sources.