Sandisk (SNDK) Stock Slides 5% Even After Beating Earnings Estimates – Here’s Why

TLDR Sandisk (SNDK) posted fiscal Q1 adjusted EPS of $49.51 on $11.03 billion in revenue, beating Wall Street estimates. The stock fell about 5% on Thursday and was down another 4.5% to $1,270.01 in premarket trading Friday. The board approved an 8-for-1 stock split, with split-adjusted trading set to begin Nov. 30. Data center revenue jumped 1,682% to $4.8 billion, but Edge and Consumer revenue missed expectations. BofA cut its price target to $2,000 from $2,500 and kept a Buy rating. Sandisk (SNDK) stock was trading at $1,270.01 in premarket action on Friday, down 4.5%. The stock closed Thursday’s regular session down 5.3%, even after the company beat Wall Street expectations on both revenue and profit.

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