Sandisk Stock Surged Over 50% in May on Strong Q3 Results but Faces Decline in June
In May, Sandisk (SNDK) stock surged by 54.6%, driven by strong fiscal Q3 results that exceeded expectations with $23.41 per share in non-GAAP earnings and revenue of $5.95 billion. However, the momentum slowed into June amid a cooling AI chip sector and negative market reactions to Broadcom's guidance.
Topics: AI chips S&P 500 Sandisk semiconductors