SanDisk Stock Reaches Record High Before Sector Dip
SanDisk Corporation (SNDK) shares closed at a record $753.69 on Wednesday, March 18, before declining approximately 5% in pre-market trading Thursday. The drop followed earnings from competitor Micron Technology, which triggered a broad selloff across memory chip stocks. SanDisk’s own recent quarterly results showed a significant beat, with earnings per share surpassing estimates by 77% and revenue topping forecasts by 13%.
Key Takeaways:
- SanDisk stock achieved a new all-time high of $753.69 on March 18, 2026.
- Shares fell roughly 5% in Thursday’s pre-market, influenced by sector reaction to Micron’s earnings report.
- The company’s Q2 FY2026 EPS was $6.20, a 77.65% beat versus the $3.49 estimate.
- Quarterly revenue reached $3.03 billion, exceeding forecasts by 13.48%.
Strong Quarterly Results Fuel Investor Confidence
SanDisk’s financial performance has been a key driver of its stock appreciation. For the first half of fiscal 2026, the company reported adjusted earnings of $7.55 per share. This figure represents an increase of nearly 150% compared to the same period the previous year. The company has issued guidance for the current quarter projecting earnings of approximately $13 per share.
Western Digital Completes Secondary Share Offering
The stock’s recent performance follows its spin-off from Western Digital in February 2026. Western Digital recently offloaded approximately 5.8 million SanDisk shares at $545 each in a secondary offering. This transaction was valued at roughly $3.09 billion. Since becoming an independent entity, SanDisk has focused its strategy on the AI data storage market.
Industry Dynamics and Future Outlook
Analysts attribute SanDisk’s revenue strength to a shortage of flash storage products, particularly enterprise solid-state drives (SSDs). The company’s 128TB SSDs are currently under evaluation by major cloud providers. SanDisk is also negotiating multi-year supply agreements, which could provide more predictable future revenue in a typically cyclical industry. Wall Street analysts currently maintain a "Strong Buy" rating on the stock.
Sources
https://www.fool.com/investing/2026/03/18/can-sandisk-becomes-trillion-dollar-stock/
