New York, Feb 10, 2026, 16:01 EST — Trading after hours.
- Sandisk dropped roughly 6% on Tuesday, deepening its decline that began in February.
- Traders highlighted a wider slowdown in memory and storage stocks as the market absorbs new U.S. data.
- Investors are eyeing Friday’s U.S. inflation report, looking for the next catalyst to move rates-sensitive tech stocks.
Sandisk Corp (SNDK.O) shares dropped sharply on Tuesday, marking a sudden shift for a stock known as a quick barometer of AI-driven data storage demand.
The drop counts now because Sandisk’s surge hinges on a squeezed memory market and hopes for steady data-center spending. Even without new company updates, a slip can trigger rapid re-pricing in heavily crowded trades.
This week’s packed macro calendar is shaking things up. Rate expectations are back in the spotlight for high-multiple tech, and traders aren’t sticking around for stocks that move in just one direction.
Sandisk slipped 6.1%, closing at $547.57. The stock fluctuated between $541.10 and $590.50 during the session, with roughly 14.4 million shares traded. Other memory and storage stocks tumbled too: Micron lost 2.5%, Western Digital slid 7.4%, and Seagate dropped 6.2%. The iShares Semiconductor ETF also edged down by 0.3%.
U.S. retail sales came in flat for December, reinforcing signs of weaker consumer activity. Cleveland Fed President Beth Hammack noted rates might stay steady “for quite some time,” signaling that policy won’t immediately shield the economy from growth worries. (Reuters)
Sandisk’s recent catalyst came in late January, when it released a forecast and supply update that sent its stock soaring and drew fresh interest into memory stocks. CEO David Goeckeler also emphasized the company’s long-term manufacturing partnership with Kioxia, noting, “We have incredible capacity in Japan that we’ve been investing in.” (Reuters)
In its January report, Sandisk revealed fiscal second-quarter revenue climbed to $3.03 billion, driven by robust demand from data centers. (Sandisk)
The risk is clear-cut: memory markets are volatile. If supply ramps up quicker than anticipated, or major cloud clients pull back following massive expansions, prices could tumble and earnings momentum could stall fast — the stock’s recent swings prove just how quickly sentiment can shift.
Friday brings the U.S. CPI report, a key rate driver known to jolt chip and storage stocks, even when companies stay quiet. (Bls)
