Sandisk Corporation (NASDAQ:SNDK) stock fell nearly 1% in Wednesday’s premarket trading after surging 10.84% in the previous session, as investors awaited the company’s fiscal fourth-quarter and full-year 2026 results, due after the closing bell.
The cautious trading came despite a generally positive broader market backdrop, with S&P 500 futures rising 0.34% while Nasdaq futures edged down 0.09%.
Earnings In Focus
Sandisk is scheduled to report its fiscal fourth-quarter and full-year 2026 financial results after the closing bell on Wednesday.
With earnings just hours away, investors appeared to be trimming positions following Tuesday’s sharp rally while awaiting fresh guidance on NAND pricing, demand trends and the company’s outlook.
Wall Street expects Sandisk to report earnings of $33.38 per share, up sharply from 29 cents a year earlier. Revenue is projected to rise to $8.24 billion from $1.90 billion in the prior-year period, according to Benzinga Pro.
The stock carries a consensus Buy rating with an average analyst price forecast of $2,031.69. Recent analyst actions have remained mixed.
Susquehanna maintained a Positive rating while lowering its price forecast to $3,050 on July 23. Wells Fargo raised its price forecast to $1,620 while maintaining an Equal Weight rating on July 22. Bank of America reiterated its Buy rating and lifted its price forecast to $2,500 on July 1.
Technical Analysis
Sandisk remains in a long-term uptrend, although near-term momentum has weakened.
The stock is trading 4.3% below its 20-day simple moving average of $1,477.06 and 17.1% below its 50-day SMA of $1,704.83. That suggests recent rallies continue to face resistance.
However, shares remain 5% above the 100-day SMA of $1,346.35 and 65.2% above the 200-day SMA of $855.31, indicating the longer-term bullish trend remains intact.
The relative strength index stands at 47.59, signaling neutral momentum. The reading suggests the stock is consolidating rather than entering either overbought or oversold territory.
The moving averages also present a mixed picture. The 20-day SMA remains below the 50-day SMA, reflecting softer short-term momentum. At the same time, the 50-day SMA remains above the 200-day SMA, preserving the longer-term bullish trend.
Key technical levels to watch include resistance around $1,600, where selling pressure has emerged previously, and support near $1,325, close to the 100-day SMA.
Benzinga Edge And ETF Exposure
Benzinga Edge assigns Sandisk a Momentum score of 99.91, reflecting strong relative price performance, while its Value score of 10.37 suggests the stock trades at a premium to many peers.
Sandisk also carries meaningful weightings in several exchange-traded funds, including the Global X NASDAQ 100 Covered Call ETF (NASDAQ:QYLD), Invesco S&P 500 Pure Growth ETF (NYSE:RPG) and First Trust US Equity Opportunities ETF (NYSE:FPX). Fund flows into or out of these ETFs can influence demand for the stock.
Price Action
SNDK Stock Price Activity: Sandisk shares were down 0.62% at $1418.76 during premarket trading on Wednesday, according to Benzinga Pro data.
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