Sandisk Shares Drop Amid Nvidia CEO Resignation and AI Sector Volatility
Sandisk (SNDK) shares fell 8.25% on Friday, November 13, 2026, as a broader sell-off in AI hardware hit the memory and storage sector. The decline follows the sudden resignation of Nvidia (NVDA) CEO Jensen Huang amid personal scandal and national security concerns regarding U.S. export controls to China. Investors are reacting to potential leadership instability at Nvidia and its implications for the AI build-out. Despite recent stellar performance, including fiscal first-quarter sales of $11 billion—a 378% year-over-year increase—Sandisk faces headwinds from the cyclical nature of the memory industry. Analysts note that while demand remains high due to a supply crunch, the sector is prone to boom-and-bust cycles driven by potential AI slowdowns or technological shifts that could reduce memory requirements.