Sandisk reported fiscal first-quarter revenue of $11.0 billion, up 23% from the prior quarter, and its board approved an eight-for-one stock split, with split-adjusted trading expected to start November 20. Looking at eight big-name split announcements, five stocks were higher a year later, with a median gain of about 26% and results ranging from a 43% drop to a 79% gain. The author argues that where a stock stood against its 52-week high mattered more than the split itself, and the two that announced well below their highs, Amazon and Netflix, performed worst. Sandisk closed at about $1,330 on October 29, 43% below its record close of $2,335 on June 25, though it is still up about 551% from a year earlier. The author also notes that growth is slowing and that flash prices may matter more than the split.
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