On August 3, SanDisk Corp. fell 3.65% in pre-market trading, trading at $1173.25/share, with turnover of $284 million. The decline reflects broad-based weakness in storage chip stocks following disappointing earnings from industry peer Kioxia.

Kioxia reported quarterly revenue of 1.77 trillion yen with revenue growing over fourfold year-over-year, while operating profit surged 27x to 1.27 trillion yen. However, both figures fell short of market expectations, with operating profit missing the consensus estimate of 1.37 trillion yen, and net profit also trailing forecasts. The miss triggered a swift shift in market sentiment, dragging down storage chip stocks including SanDisk and Micron Technology.

Adding to the pressure, SanDisk is scheduled to report its quarterly earnings on August 5 after market close, with consensus expectations of $83.94 billion in revenue and adjusted EPS of $34.45. Following a 47% cumulative decline in July, investors remain cautious about whether the upcoming report can validate the sustainability of AI-driven storage demand, intensifying pre-earnings volatility.

(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.)