SanDisk inventory (NASDAQ: SNDK) is having the worst attainable month as costs are skydiving in July. After reaching an all-time excessive above $2,350 in late June, SNDK dropped into the $1,200 vary. It opened Tuesday’s buying and selling bell at $1,278 and has slipped practically 38% in a month. The correction is sharp and has lower retail traders’ portfolios, as institutional funds resort to profit-booking and sell-offs this month.
Can SanDisk Fall Under $1,000? (SNDK)
Sure, SanDisk inventory can fall beneath $1,000, as traders’ nervousness is rising forward of the upcoming Q2 earnings name scheduled on August 5, 2026. Considerations in regards to the AI business’s capex are excessive, as Alphabet not too long ago introduced in its earnings name that it’s rising its spending from $180 billion to $205 billion for 2026. Whereas overspending is now previous baggage, all eyes stay on NAND flash reminiscence provide. The one factor that saved the semiconductor sector in line was the excessive demand and low provide.
If Samsung manages to ramp up manufacturing, making the provision transfer to oversupply, SanDisk inventory can straightaway right by one other 10% to twenty%. Subsequently, SNDK falling to the $1,000 and the $950 vary stays excessive if the event performs out. $1,000 is an enormous psychological stage and a significant resistance zone for traders. A slip beneath this mark may make the reminiscence maker weak within the charts in comparison with its opponents.
As well as, Citron Analysis had taken a brief name on SanDisk inventory after betting on the extremely cyclical reminiscence market. The short-selling fund had explicitly famous that the present tight reminiscence provide is a short lived “mirage.” It defined that when Samsung resolves its bottleneck and floods the market with Strong State Drives (SSDs), SanDisk’s energy to dominate pricing would evaporate. In conclusion, SanDisk is now strolling on a skinny rope, and solely the Q2 earnings name could possibly be its saving grace.
