SanDisk Corporation shares closed lower on Monday, falling 2.4% to $583.35 in extended trading. The session was marked by significant volatility, with the stock oscillating between an intraday low of $553.32 and a high of $605.92. Trading volume reached approximately 14.7 million shares.
The pullback follows a substantial rally that has positioned SanDisk as a key barometer for investor sentiment toward artificial intelligence-related data center expenditure and memory chip pricing dynamics. Despite the recent decline, the stock has advanced roughly 152% since the beginning of 2026.
Performance across the memory and storage sector was mixed. Micron Technology shares fell 2.8%, while Western Digital gained 1.3% during the regular trading session.
AI Demand and Financial Outlook
SanDisk, a provider of NAND flash memory used in solid-state drives, recently provided a bullish forecast. The company projected fiscal third-quarter revenue with a midpoint of $4.6 billion and adjusted earnings per share around $14, both exceeding analyst expectations. CEO David Goeckeler noted that AI applications are driving increased demand for flash storage solutions.
Analysts at Morgan Stanley indicated that SanDisk's current earnings trajectory is "above the long-term trend" and could be sustained for more than a year if the AI infrastructure expansion remains strong. The company also recently extended a key flash memory supply agreement with Japan's Kioxia through 2034.
Market Context and Macro Focus
While broader equity markets showed signs of stabilization, concerns regarding interest rate policy persist. "We have a sharply oversold market where a little bit of good news can go a long way," observed Keith Lerner of Truist Advisory Services.
Investor attention is now shifting to macroeconomic indicators. Upcoming releases, including the U.S. Employment Situation report on February 11 and the Consumer Price Index data on February 13, are expected to influence Treasury yields and, consequently, high-growth technology stocks like SanDisk. The company began trading independently on the Nasdaq in February 2025 under the ticker "SNDK" following its separation from Western Digital.
