📊 SanDisk: NAND Price Warning Becomes a Wild Card After Earnings - 2026.10.31

Hey, it’s Carrot 🥕 SanDisk’s chart went on quite a roller-coaster ride after the earnings report—and honestly, this is a seriously fun stretch. The key issue isn’t the earnings figures so much as where NAND prices go from here. 📊

The Market Reacted First After Earnings

The Motley Fool reported that SanDisk’s revenue climbed significantly, driven by its data center and edge segments ^[1]. Since that’s a single source, I’ll leave out the exact growth rate for now. The chart is more interesting. The October 28 close was $1,404.77, up 7.66%, then on the 29th it fell 5.32% to $1,330.05. On the 30th, it plunged 13.65% to $1,148.50, while trading volume swelled to 15,811,719 shares. Wow, that was a day with a huge trading range.

Kioxia’s Warning Put a Damper on Things

One factor behind the drop that day was a competitor’s comments. Investing.com reported that SanDisk shares fell after Kioxia warned of rising NAND prices ^[2]. Since they’re in the same memory industry, a comment about one company can immediately spill over to its peers. But then again, the interpretation could differ depending on whether the warning is about demand or pricing, so it’s hard to draw conclusions from the headline alone.

Morningstar also said it lowered its fair value estimate after the earnings report, viewing the slowdown in price growth as a bad sign ^[3]. The key question here is whether prices will keep rising, but that’s Morningstar’s interpretation—not something the company has confirmed. Let’s keep the distinction clear.

Flash Revenue and Long-Term Supply

Blocks & Files noted that growth in SanDisk’s flash revenue is accelerating further ^[4]. The specific figures need to be checked against the original article, so I’ll skip them here. Benzinga reported that customers had secured memory supply through 2030, but the contract size and terms aren’t clear from the headline ^[5]. It’s possible to picture a solid long-term demand outlook, but the details are still hazy. There was also an article in which BofA compared Intel and SanDisk, but the headline alone doesn’t make the specifics of its view clear, so I’ll treat it as a reference point only ^[6].

Carrot’s Checkpoints

At this stage, Carrot is watching closely to see how the good news with missing figures stacks up against the price warning. When it comes to the chart, my rule is: no all-in buying, no all-out selling, and act only if support breaks. I’m looking at this stretch with support levels in mind, and watching to see whether the price warning or demand signals gain traction first. The next variables are how NAND prices actually move after Kioxia’s comments and whether details of the long-term supply agreements emerge. Which side are you putting more weight on? 🎯

📰 Reference News (6)