On August 6, SanDisk Corp. fell 8.27% in pre-market trading, trading at $1237.99/share, with turnover of $30.03 million. The decline follows the company's after-hours earnings release on August 5, where forward guidance fell short of Wall Street's elevated expectations.

SanDisk reported Q4 FY2026 revenue of $8.97 billion, surging 372% year-over-year and beating consensus estimates of $8.39 billion. Adjusted EPS came in at $39.25, exceeding the $34.45 estimate by nearly 14%. Adjusted gross margin reached a record 84.6%. However, the company guided Q1 FY2027 revenue to $10.3-$10.8 billion, with a midpoint of $10.55 billion, below the market expectation of $10.8 billion. Adjusted EPS guidance midpoint of $45 also trailed the $45.58 consensus.

Despite simultaneously announcing a $14 billion stock buyback plan bringing total remaining authorization to $15.5 billion, the slightly disappointing forward outlook triggered heavy selling pressure. Analysts noted that following a 47% cumulative decline in July, investors held exceptionally stringent expectations for guidance, and any shortfall was amplified. Goldman Sachs warned that the underwhelming guidance could also weigh on peer Micron Technology.

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