Key Highlights

  • USD 11.0 billion of Revenue was reported by Sandisk (NASDAQ:SNDK) for the quarter, and the premarket quote still fell 8.05% to 8.3%, per published market data on October 30, 2026.
  • USD 12.2 billion to 12.6 billion is the Q2 revenue guide from Sandisk (NASDAQ:SNDK), a range the market treated as a peak-pricing signal rather than good news.
  • 61% growth took Data Center revenue to USD 4.8 billion, and non-GAAP gross Margin reached 85.1%, figures that show how profitable the memory upcycle has become.
  • 8-for-1 is the Stock Split announced alongside results, with a November 19 date that rests on a single recap and is not confirmed by a company filing here.

Strong Results, Weak Shares

Sandisk (NASDAQ:SNDK) reported results after the close on October 29, 2026. Revenue was USD 11.0 billion and the guide for the next quarter is USD 12.2 billion to 12.6 billion, both confirmed in two recaps. Data center revenue rose 61% to USD 4.8 billion and non-GAAP gross margin was 85.1%. The company also announced an 8-for-1 stock split. Even so, shares fell between 8.05% and 8.3% in Friday premarket. Earnings Per Share conflict across recaps, USD 52.60 in one and USD 49.51 in another, so we do not cite either as final. A split changes the share count and price per share, not the value of the company.

The Peak-Pricing Worry

Memory makers earn the most when Supply is tight and contract prices rise. Sandisk (NASDAQ:SNDK) sells NAND flash, so its margins move with those prices. Investors fear pricing may be near a peak, and a gross margin of 85.1% leaves little room to improve further. Read-across from peers added pressure: SK hynix ADRs fell more than 7%, and Kioxia's operating profit guide of 2 trillion yen for its fiscal third quarter was below a consensus of 2.35 trillion yen, according to one recap. When the strongest results in a cycle meet flat expectations, shares can fall even on a guide that is higher than the quarter just reported.

Risks and What to Watch

The main risk for Sandisk (NASDAQ:SNDK) is a turn in memory pricing, since a high margin base can compress quickly if supply catches up with demand. Concentration in data center customers is another risk, because that segment now brings USD 4.8 billion of quarterly revenue. The premarket quote is a snapshot and can reverse at the 9:30 a.m. ET open. Nasdaq-100 futures were about 2.5% lower, so some of the fall is a broad technology sell-off, with Dell down about 10% in the same session. Watch the split date, which is reported as November 19 in one recap only, and peer commentary on memory pricing.

Where Things Stand

Sandisk (NASDAQ:SNDK) is down about 8% because the results confirmed a strong cycle that investors fear is near its top. Revenue of USD 11.0 billion, a guide of USD 12.2 billion to 12.6 billion and an 85.1% gross margin set a high bar, and weak peer signals from SK hynix and Kioxia sharpened the doubt. The split is cosmetic. The balance of evidence shows a Business performing well, with the debate now about duration. The next catalyst is the regular session open, followed by the reported November 19 split date and any peer updates on memory pricing.