Sandisk (SNDK) fell 24% in October, according to S&P Global Market Intelligence, even though it reported strong growth, as the market worries the memory cycle may slow. In the fiscal first quarter of 2027 (ended Oct. 2), revenue rose 378% year over year, gross margin widened from 29.8% to 85.1%, and adjusted free cash flow reached $5.7 billion. Data center revenue jumped 1,682%, and the company has signed eight NBMs with terms running past 2030. It also announced an eight-for-one stock split set to occur on Nov. 19. The author argues the market may be overreacting, noting the stock is still up 352% year to date and trades at under nine times trailing 12-month earnings.
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