TLDR
- SanDisk stock is down 24.8% week-to-Thursday, its worst weekly performance since March 2025
- The stock is now 39% below its June record high, despite no earnings warning or guidance cut
- Wall Street consensus remains Buy, with an average price target of $1,755.75
- Bank of America, Bernstein, and Citigroup all hold price targets between $2,500–$3,000
- SanDisk trades at a forward P/E of just 7.6x on FY2027 EPS estimates of $208.22
SanDisk (SNDK) stock has pulled back hard this week, falling 24.8% in four sessions with no bad news to blame. The stock, which climbed more than 6,000% between June 2025 and June 2026, is now trading around $1,411 — roughly 39% off its June record high.
No earnings warning. No guidance cut. Just gravity doing its job.
The selloff puts SNDK on track for its worst weekly performance since March 2025. Yet Wall Street hasn’t flinched. Not a single analyst downgraded the stock this week.
What Analysts Are Saying
Bank of America’s Wamsi Mohan reiterated a Buy and raised his price target to $2,500 on July 1, citing a NAND supply squeeze he expects to run through 2027. Bernstein went to $3,000 on June 30. Citigroup followed at $2,500 on June 25.
The consensus Buy rating carries an average price target of $1,755.75 — well above where the stock sits today.
SanDisk isn’t due to report again until August 5, after the close. So the market has had zero new fundamental information to react to all week.
The drop looks more like momentum unwinding than any verdict on the business.
The Numbers Behind the Rally
Before this week, SNDK was up 563% year-to-date, the top performer in the Nasdaq-100 by a wide margin. Since its 52-week low of $40, the stock had gained roughly 3,748% at its peak.
That kind of move creates a fragile structure. When every buyer is sitting on a profit and no long-term holder base exists to absorb selling, the first wave of profit-taking can snowball fast.
The fundamentals, though, remain intact. SanDisk has signed $42 billion in multiyear supply contracts tied to AI data center buildouts. Revenue and EPS are growing at triple-digit rates year over year. Gross margins are expanding.
For the current fiscal year, analysts estimate EPS of $66.51. For next year, the consensus sits at $208.22 — putting the stock at a forward P/E of just 7.6x on those numbers.
That’s a low multiple for a company growing at this pace. Whether the market re-rates it higher depends on whether AI infrastructure spending continues at the scale hyperscalers have signaled.
The next catalyst is the August 5 earnings report.
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