SanDisk (SNDK) Stock: Wall Street Stays Bullish After Earnings Dip
TLDR
- SNDK rose 3.53% in premarket Friday to $1,302.96, recovering from Thursday’s post-earnings drop
- Quarterly EPS of $39.25 beat estimates by 13.9%; revenue hit $8.97 billion vs. $8.39 billion expected
- CEO says long-term purchase agreements now cover half of fiscal 2027 production
- Board approved a $14 billion buyback, bringing total remaining authorization to $15.5 billion
- Analyst consensus stays Buy with an average price target of $2,114.77
SanDisk (SNDK) stock climbed 3.53% to $1,302.96 in Friday premarket trading, bouncing back after Thursday’s sell-off that followed its quarterly earnings report.
That drop was a head-scratcher on the surface. Sandisk posted EPS of $39.25, beating the $34.45 consensus by 13.9%. Revenue came in at $8.97 billion, well above the $8.39 billion estimate and sharply higher than the $1.9 billion reported in the year-ago quarter.
So why did the stock fall? Investors zeroed in on softer-than-expected near-term revenue guidance and started asking whether those fat margins can hold as the memory market shifts.
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