Movement Alert｜SanDisk Corp. falls 8.05% in Regular Trading, target price cuts and sector-wide storage weakness weigh on shares

Market Focus10-30

On October 30, SanDisk Corp. falls 8.05% in Regular Trading, trading at $1217.14 per share, with turnover of $1.724 billion.

The clearest catalyst was event-driven: several brokers cut target prices, including Wells Fargo lowering its target to $1300 from $1550, while storage and hard-drive stocks broadly moved lower the same day, with Western Digital, Seagate Technology, and SK Hynix also under pressure.

This pullback came despite a strong quarterly report released a day earlier. SanDisk Corp. posted fiscal Q1 revenue of $11.031 billion, up 378% year over year, and adjusted EPS of $49.51, both above consensus. Its fiscal Q2 revenue outlook of $12.2 billion to $12.6 billion also topped expectations, with data center revenue reaching $4.8 billion and rising 61% sequentially. The contrast suggests the session move was more closely tied to valuation reset and sector risk-off trading than to the earnings figures themselves.

(The above content is based on publicly available market information, generated by a program or algorithm, and is intended solely as a stock movement alert. It does not constitute investment advice or a basis for trading decisions.)

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