Sandisk (SNDK) Stock Slides 5% Even After Beating Earnings Estimates – Here’s Why

TLDR Sandisk (SNDK) posted fiscal Q1 adjusted EPS of $49.51 on $11.03 billion in revenue, beating Wall Street estimates. The stock fell about 5% on Thursday and was down another 4.5% to $1,270.01 in premarket trading Friday. The board approved an 8-for-1 stock split, with split-adjusted trading set to begin Nov. 30. Data center revenue jumped 1,682% to $4.8 billion, but Edge and Consumer revenue missed expectations. BofA cut its price target to $2,000 from $2,500 and kept a Buy rating. Sandisk (SNDK) stock was trading at $1,270.01 in premarket action on Friday, down 4.5%.

Source: CoinCentral