Sandisk Falls 9% Despite Earnings Beat, Raised Guidance and 8-for-1 Split; Western Digital Drops 8%, Seagate 7%, Micron 6%
AI Market Summary
Sandisk shares dropped 9% despite an earnings beat and raised guidance, signaling profit-taking after a 460% YTD rally and a high bar for results. The read-through hit memory and storage peers: Western Digital, Seagate and Micron fell 6-8%, and the SMH semiconductor ETF dropped 5%. Short-term impact is negative for semiconductor sentiment, though the broader SPY fell only 1%, suggesting contained contagion.
Impact level
● Medium
Affected assets
NCSKSNDK2USD/USDT-0.36%
AI Insight · NCSKSNDK2USD/USDTAI Insight
▼ Bearish
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Sandisk beat Wall Street estimates for Q1 revenue and EPS while announcing a buyback and an 8-for-1 stock split, yet its shares still fell 9%. The decline weighed on Western Digital, which dropped 8%, while Seagate slid 7% and Micron fell 6%.
