SanDisk (SNDK) shares declined approximately 2.5% during Monday’s regular trading session. The stock fell an additional 1% in after-hours trading as investor sentiment cooled.
The downturn follows reports that competitor Samsung is accelerating production of a new memory product. This move raised market concerns regarding increased sector supply and heightened competition.
This correction follows a significant rally driven by SanDisk’s fiscal Q2 2026 earnings report. The company’s quarterly results and forward guidance substantially exceeded analyst expectations.
Goldman Sachs analyst James Schneider maintained a bullish outlook despite the recent dip. Schneider expects the stock to trend higher, citing the strength of the latest quarterly performance.