SanDisk falls 11%+ after a beat, raised guide and 8-for-1 split; Q2 guide midpoint annualized puts it near 5x forward EPS
SanDisk fell more than 11% Friday, a day after beating fiscal Q1 estimates, raising guidance and announcing an 8-for-1 stock split.
Annualize the $56 Q2 EPS guide midpoint and it trades near 5x forward earnings. Nobody pays 5x for profits they think will last. The market is betting NAND prices already peaked. Not financial advice.
https://www.investing.com/news/stock-market-news/sandisk-stock-tumbles-as-kioxia-warns-on-nand-price-surge-4988296
Sources: Proactive: SanDisk Q1 revenue $11.03B, adj EPS $49.51, Q2 EPS guide $55 to $57, 8-for-1 split, $5B buyback · Motley Fool: Why Sandisk stock plunged today; quote $1,121.29 as of 2:56 PM ET Oct 30 · @CKCapitalxx: $SNDK down 11% after putting up those numbers completely sums up the market
Not financial advice. For informational and educational purposes only.
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