Story perspectives

SanDisk Shares Plunge 14% Amid Strong Earnings, AI Deals

7/4/2026

Summary

Story summary

SanDisk shares dropped over 14% on July 2, closing at $1,762.01.
Its BiCS10 chip, sampled July 2, offers 332-layer 3D NAND with 59% higher density and 4.8 Gbps speed.
Q3 2026 revenue rose 251% to $5.95 billion, including $1.467 billion data-center sales and $23.41 non-GAAP EPS.
SanDisk signed five AI supply deals worth $42 billion through 2030.
Analysts set an average $1,845.64 price target as the stock trades below its 20-day moving average near $1,500.

History

Historical Context

In April 2007 Toshiba introduced the first 3-D IC NAND with eight stacked chips, and Hynix later demonstrated 24-layer stacks. Building on that, Samsung launched the first commercial 3-D V-NAND in 2013, shipping 24-layer chips that sold 1.2 million units for $2.5 billion. The 2013 breakthrough paved the way for later high-layer products such as SanDisk’s 332-layer BiCS10 in 2026 and today’s AI-focused memory contracts.

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Story summary

SanDisk shares dropped over 14% on July 2, closing at $1,762.01.
Its BiCS10 chip, sampled July 2, offers 332-layer 3D NAND with 59% higher density and 4.8 Gbps speed.
Q3 2026 revenue rose 251% to $5.95 billion, including $1.467 billion data-center sales and $23.41 non-GAAP EPS.
SanDisk signed five AI supply deals worth $42 billion through 2030.
Analysts set an average $1,845.64 price target as the stock trades below its 20-day moving average near $1,500.

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