SanDisk Q1 earnings beat but shares tumble as investors question growth sustainability
SanDisk reported fiscal first‑quarter 2027 revenue of $11.03 billion and non‑GAAP earnings of $49.51 per share, both above analysts' expectations. Despite the beat, the stock fell 4.3% in pre‑market trading and later dropped 5.3% to $1,330 during the day, extending a broader sell‑off. The company guided second‑quarter revenue to $12.2 billion‑$12.6 billion and announced an 8‑for‑1 forward stock split effective 19 Nov 2026, but investors remain uneasy about margin sustainability and consumer demand weakness.
Why it matters
Cantor Fitzgerald cut its price target on SanDisk after the earnings release, signaling a more cautious outlook. The share‑price decline and the upcoming split suggest investors are reassessing the stock’s valuation despite the earnings beat.
Key facts
- 1Fiscal Q1 2027 revenue was $11.03 billion, topping the consensus estimate of about $10.7 billion. tradingpedia.com
- 2Fiscal Q1 2027 non‑GAAP earnings per share were $49.51, above the consensus of $47.15. tradingpedia.com
- 3Sequential revenue growth slowed to 23% from 51% in the prior quarter. tradingpedia.com
- 4Non‑GAAP gross margin for the quarter was 85.1%. tradingpedia.com
- 5Second‑quarter revenue guidance was $12.2 billion‑$12.6 billion. tradingpedia.com
- 6SanDisk announced an 8‑for‑1 forward stock split effective 19 Nov 2026. tradingpedia.com
Summary written by AlphAI AI Desk from 3 of 3 sources. Not investment advice. Figures are as stated by the linked sources.