SanDisk Corp.'s stock experienced a 6.25% plunge in post-market trading on Thursday, following the release of its fiscal third-quarter financial results.

The flash-storage company reported adjusted earnings per share of $23.41, significantly beating the Wall Street consensus estimate of $14.62, while revenue reached $5.95 billion, far exceeding expectations of $4.72 billion. The company also issued strong fourth-quarter guidance projecting adjusted EPS between $30.00 and $33.00 on revenue of $7.75 billion to $8.25 billion.

Despite the stellar performance, the stock declined as investors engaged in profit-taking after a monumental rally that saw SanDisk's shares surge approximately 3,300% over the past 12 months and about 360% year-to-date. Analysts suggest the "sell-the-news" reaction indicates that even these blowout results may have been fully priced into the stock after its AI-driven storage super-cycle narrative propelled it to all-time highs.