Sandisk Announces 8-for-1 Stock Split as Micron Eyes Similar Move

Market volatility impacts memory chip stocks

Memory and storage stocks are currently rebounding from a sell-off related to AI. The sector is facing pressure from a combination of election fallout and pricing issues, despite strong demand for AI data centres.

Sandisk reports record fiscal Q1 2027 results

The results for the three months ended 2 October beat market expectations, with revenue increasing nearly five times year-over-year and non-GAAP earnings per share of $49.51, a 40-fold rise from the prior year.

Management stated on an 29 October 2026 call that "Customers have underestimated the amount of NAND they need to run their infrastructure". The company forecasts EPS of $55.00 on revenue of $12.4 billion for the current quarter, compared with $6.20 EPS and $3 billion revenue in the year-ago period. Investors are currently positioned between the company's record revenue and a significant sell-off.

Micron Technology faces split speculation

Micron Technology could be the next memory-chip maker to announce a stock split when it releases its December earnings. Micron’s share price was close to $800, and the stock has risen nearly 1,000% over the last three years. At the time of writing, Micron Technology’s stock was up 9.60%. Sandisk’s share price remains under pressure from factors outside its control, though the stock rose 9.14% following its own earnings release.

Financial performance and valuation of memory leaders

Micron Technology reported fiscal 2026 revenue of $133.2 billion, which represents a 256% increase from the prior year. Its adjusted earnings per share reached $75.52, more than nine times the figure recorded in the previous year.

Micron currently trades at a forward price-to-earnings multiple of 4.6 times, whereas the S&P 500 trades at 19 times. Both 247wallst.com and fool.com report that Micron trades at a trailing price-to-earnings multiple of 9 times.

Sandisk maintains a price-to-earnings multiple of 10 times. This valuation is considered low for a company experiencing rapid revenue growth.

Recent share price fluctuations for Sandisk and Micron

Market volatility has resulted in significant price swings for semiconductor shares. On 5 November 2026, Sandisk shares fell more than 22%, while Micron shares dropped 18%.

By the morning of 6 November 2026, Sandisk stock traded at $883.13, a 10% increase. Micron stock traded at $709.50, up 8% on that day. 247wallst.com reported that Micron and Western Digital stocks both saw an 8% increase on 6 November. Western Digital stock was trading at $287.75, also up 8%.

Earlier reporting indicates broader sector instability. On the day of its earnings release, Sandisk shares fell 9% according to 247wallst.com, while fool.com reported a decline of more than 13% due to a technology sell-off. On the same day, Micron shares fell 6%. Western Digital shares fell 8% and Seagate shares fell 7%.

Western Digital stock has lost 30% over the month preceding 6 November 2026.

Sandisk stock has declined by 45% over the past month, according to 247wallst.com, while an alternative report from the same outlet measured the decline at 23%. Micron Technology shares were up 9.60% on the day of the report.

Industry outlook and expert analysis

KC Rajkumar of LYNX Equity Strategies suggested that investors should "stick one’s toe in, gingerly". He cited the $25 billion buyback authorisation from Lam Research as a signal of confidence.

On 30 September 2026, Micron’s chief financial officer stated that price increases should continue at "a more moderate pace".

Corporate structure and background

Sandisk Corporation is headquartered in Milpitas, California, and operates as a subsidiary of Western Digital Corp. The company trades on the NASDAQ under the ticker SNDK and completed its initial public offering on 24 February 2025.

The company currently lists 271 open job roles and holds an employee review score of 3.4 based on 655 reviews.