Yea - a big win for Micron (MU) - even SanDisk shares are shaky with the thought of MU Quarterly Revenue announcement coming.
On September 28, SanDisk Corp. fell 3.05% in pre-market trading, trading at $1,720.09/share, with turnover of $12.716 million. The decline was driven by broad weakness across the storage sector ahead of Micron Technology's upcoming earnings report, compounded by persistent insider selling by the company's top executive.
On the sector front, market participants adopted a wait-and-see stance ahead of Micron's financial results, dampening sentiment across storage names. Within the Technology Hardware, Storage & Peripherals sector, Western Digital fell 2.45%, Seagate Technology declined 2.11%, and Dell Technologies dropped 1.76%, reflecting widespread selling pressure.
Meanwhile, SanDisk Chairman and CEO David Goeckeler has conducted consecutive large-scale share disposals. On September 17, he sold approximately 30,269 shares and cashed out roughly $53.27 million, followed by a cumulative reduction of 31,478 shares on September 14 with planned proceeds of approximately $55.27 million. All transactions were executed under a pre-arranged Rule 10b5-1 plan. While such plans are routine, the magnitude and frequency of recent sales have weighed on near-term market sentiment. Notably, Rosenblatt Securities recently initiated coverage on SanDisk with a Buy rating and a $2,400 price target, citing NAND's evolving role as a critical AI infrastructure component.
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