Key Highlights

  • Sandisk (NASDAQ:SNDK) fell 13.47 percent on October 30, 2026 to close at USD 1,150.89, after reporting fiscal first quarter 2027 Revenue of USD 11.03 billion, up 378 percent from a year earlier and up 23 percent sequentially.
  • Non-GAAP Earnings were USD 49.51 per share against about USD 46.67 expected, with a gross Margin of 85.1 percent, up from 29.9 percent a year earlier, according to the company release.
  • The board approved an 8-for-1 forward split effective November 19, 2026, with split-adjusted trading expected to begin on November 20, and the split does not change the company's market value.
  • Second quarter guidance calls for revenue of USD 12.2 billion to 12.6 billion and non-GAAP earnings of USD 55.00 to 57.00 per share before the split.

A Blowout Quarter, a Falling Stock

Sandisk (NASDAQ:SNDK) reported fiscal first quarter 2027 results on October 29, 2026 for the quarter ended October 2. Revenue of USD 11.03 billion beat the roughly USD 10.7 billion consensus. GAAP Net Income was USD 8.10 billion, or USD 52.60 a share. Data Center revenue reached about USD 4.8 billion against roughly USD 4.0 billion expected, and edge revenue was USD 5.8 billion, up 320 percent. Yet the shares fell 13.47 percent on October 30, trading between USD 1,115.16 and USD 1,239.00. Published commentary pointed to worries that growth cannot last, doubts about the durability of AI-related Demand and a possible ceiling on memory prices, none of which the company has confirmed.

What the Split Does

A Stock Split divides each share into more shares at a proportionally lower price. Holders of record on November 9 receive seven additional shares for each share held, issued after the close on November 19. At the October 30 close of USD 1,150.89, one share would become eight shares worth about USD 143.86 each, simple arithmetic that ignores price changes. Market Value and ownership percentages do not change, so a split is mainly about accessibility and Options trading, not about value. Sandisk (NASDAQ:SNDK) also repurchased about 3.2 million shares for USD 5.0 billion in the quarter, and ended with USD 5.14 billion of cash and equivalents.

Risks and What to Watch

Memory is a cyclical business, and a gross margin of 85 percent invites competition and customer pushback if prices ease. The October 30 sell-off came after weak AI-linked results from Amazon and Alphabet and a steep drop in Intel, which raised doubts about data center spending. Guidance of USD 12.2 billion to 12.6 billion is above Wall Street expectations, so the bar is high for the next report and any miss would be punished. Dates to watch are the November 9 record date, the November 19 effective date and the November 20 start of split-adjusted trading. Sandisk (NASDAQ:SNDK) shares remain very volatile around any change in the AI spending outlook.

Where Things Stand

A memory chipmaker fell 13.47 percent after a record quarter because investors were weighing how long extreme growth and 85 percent margins can last. Sandisk (NASDAQ:SNDK) beat on revenue, earnings and guidance, and the stock split does not change its value. The balance of evidence points to a profit-taking and cycle-risk reaction rather than a deterioration in results. The next checks are the split dates in November and any sign of weaker AI-related demand or lower memory prices.