Sandisk Shares Drop Below $900 Amid Wider Tech Sell-Off, Opening Window for Careful Buyers

Sandisk shares dropped by approximately 8% on Friday, trading down to roughly $860 and retreating about 12% from a close near $978 on Wednesday, Nov. 11. The decline brought the flash memory maker back under the $900 mark, a price point tied to roughly four years of projected earnings based on management's guidance for the current quarter. Ahead of an upcoming eight-for-one stock split scheduled for Nov. 20—which will adjust current share prices to about $107—investors are weighing the valuation against broader market movements.

The downward momentum was not unique to Sandisk. Semiconductor peer Micron fell about 4%, hard drive manufacturer Western Digital declined roughly 7%, and the Nasdaq Composite dipped around 1%. The weakness reflected a sector-wide tech sell-off rather than any company-specific announcements or updated regulatory filings from Sandisk, which has maintained its financial outlook since posting fiscal first-quarter results on Oct. 29.

For the fiscal second quarter of 2027, management projected revenue between $12.2 billion and $12.6 billion, with non-GAAP earnings between $55 and $57 per pre-split share. This follows a strong fiscal first quarter where total revenue surged 378% year-over-year to $11.0 billion, fueled heavily by data center sales reaching $4.8 billion. Adjusted gross margins also expanded significantly, hitting 85% in the latest quarter, though guidance indicates that margin expansion may be stabilizing.

What to watch next: Monitor the upcoming Nov. 20 split-adjusted trading debut and broader semiconductor sector trends for signs of flash memory price stability.