SanDisk (SNDK) fell to $1,394.83 on Oct. 15, extending a six‑day losing streak, yet the flash‑memory maker remains up roughly 488% year‑to‑date. Strong earnings and a new Chinese DRAM rival add nuance to the dip.
SanDisk (NASDAQ:SNDK) closed around $1,395 on Oct. 15, marking its sixth consecutive daily decline and a 3.2% drop by 10:45 a.m. ET on Friday, leaving the stock down 6.85% for the week (The Motley Fool, 2026‑10‑16). Despite the slide, the shares are still up about 488% since the end of 2025, though they sit roughly 40% below the June 25 peak of $2,335 (247WallSt, 2026‑10‑16).
The price dip comes on the back of robust earnings growth. Non‑GAAP earnings per share surged from $6.20 in fiscal Q2 2026 to $23.41 in Q3, a 278% sequential jump, and rose further to $39.25 in fiscal Q4 (ended July 3), beating consensus estimates (247WallSt, 2026‑10‑16). Management now guides fiscal Q1 2027 EPS to $44‑$46, implying about 15% growth over the prior quarter.
Revenue has accelerated as well. Fiscal 2026 revenue reached $20.25 billion, up 175.3% year‑over‑year, driven by AI‑datacenter demand, while Q4 revenue hit $8.96 billion, a 371.6% increase (247WallSt, 2026‑10‑16). The company backs its outlook with long‑term contracts covering $93.9 billion of expected revenue at floor pricing and a $15.5 billion share‑buyback authorization to absorb short‑term weakness.
However, the rally faces new headwinds. Chinese DRAM specialist CXMT, the fourth‑largest memory maker by market share, announced progress on its "4F square" technology that could boost DRAM density and launch a product before year‑end (The Motley Fool, 2026‑10‑16). Analysts warn that CXMT’s upcoming chips could pressure SanDisk’s pricing, especially as two‑thirds of last quarter’s growth stemmed from price rather than volume.
Investors are left weighing the contrast: a stock that has delivered extraordinary YTD returns and accelerating earnings versus emerging competitive pressure and a recent 18% slide over six sessions. The upcoming fiscal Q1 2027 report will be pivotal in determining whether the current dip represents a buying opportunity or a warning sign (247WallSt, 2026‑10‑16).