Major Stocks Including Freeport-McMoRan, Harmony Biosciences, and Cohu Decline on Wednesday
Written by Emily J. Thompson, Senior Investment Analyst
Updated: Sep 24 2025
0mins
Should l Buy SNDK?
Source: Benzinga
U.S. Stock Market Performance: U.S. stocks declined, with the Dow Jones index dropping over 150 points, influenced by significant losses in various companies, particularly Freeport-McMoRan, which fell 16.4% after issuing disappointing sales guidance and reporting fatalities at its mine.
Notable Stock Declines: Other companies also experienced substantial losses, including Zhengye Biotechnology (-28.2%), Harmony Biosciences (-14.6%), and Cohu, Inc. (-12.7%), with Harmony's decline attributed to unmet clinical trial expectations and a lowered price target from Needham.
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Analyst Views on SNDK
Wall Street analysts forecast SNDK stock price to fall
14 Analyst Rating
11 Buy
3 Hold
0 Sell
Strong Buy
Current: 1383.290
Low
220.00
Averages
283.69
High
410.00
Current: 1383.290
Low
220.00
Averages
283.69
High
410.00
About SNDK
SanDisk Corporation is a developer, manufacturer and provider of data storage devices and solutions based on NAND flash technology and has consumer brands and franchises globally. The Company's solutions include a range of solid state drives (SSDs) embedded products, removable cards, universal serial bus (USB) drives, and wafers and components. Its broad portfolio of technology and products addresses multiple end markets of Datacenter, Edge and Consumer. Its Datacenter end market is composed primarily of products for public or private cloud environments and enterprise customers. The Company, through the Edge end market, provides original equipment manufacturer and channel customers a broad array of high-performance flash solutions across personal computer, mobile, gaming, automotive, virtual reality headsets, at-home entertainment, and industrial spaces. The Company serves the Consumer end market with a broad range of retail and other end-user products.
About the author
Emily J. Thompson
Emily J. Thompson, a Chartered Financial Analyst (CFA) with 12 years in investment research, graduated with honors from the Wharton School. Specializing in industrial and technology stocks, she provides in-depth analysis for Intellectia’s earnings and market brief reports.
Reasons Behind Sandisk's Stock Surge
- Significant Revenue Growth: Sandisk's third-quarter revenue surged 251% year-over-year to $5.95 billion, primarily driven by demand from data centers and edge computing, showcasing the company's strong performance in the rapidly growing AI market.
- Soaring Gross Margin: The company's gross margin skyrocketed from 22.7% in Q3 2025 to 78.4%, surpassing industry leader Nvidia's 75%, indicating Sandisk's success in enhancing profitability and boosting investor confidence.
- Dramatic EPS Improvement: Sandisk's earnings per share skyrocketed from a loss of $0.30 to a gain of $23.41, reflecting a significant enhancement in the company's profitability under high demand conditions, prompting investors to reassess its intrinsic value.
- Optimistic Market Outlook: Despite Sandisk's forward P/E ratio of 24 being lower than the S&P 500's 22, investors should remain cautious due to the cyclical risks in the memory hardware industry, as the next five years may face the risk of a demand bubble.
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U.S. Stocks Edge Up, Led by Semiconductor Gains
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- Bond Yield Decline: The 10-year Treasury note yield fell by 2 basis points to 4.65%, as inflation expectations weakened due to a more than 2% drop in WTI crude oil prices, providing support for the bond market and potentially influencing future interest rate decisions.
- Semiconductor Sector Strength: Nvidia's stock rose by 0.6%, with the market keenly awaiting its upcoming earnings report, which is expected to show an 80% year-over-year increase in Q1 sales, providing crucial insights into the state of the AI economy and potentially impacting industry competition.
- Mortgage Applications Drop: U.S. MBA mortgage applications fell by 2.3% in the week ending May 1, with the purchase mortgage sub-index down 4.1%, reflecting that despite the average 30-year fixed mortgage rate rising to 6.56%, housing demand remains weak, which could have long-term implications for the real estate market.
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- Samsung Strike Impact: Approximately 48,000 workers at Samsung Electronics are expected to strike for 18 days starting May 21 over bonus disputes, raising concerns about supply disruptions that have led to a rally in chip stocks, particularly benefiting Micron and Intel.
- Micron Stock Surge: Micron Technology's shares rose by 4.8%, as investors viewed it as a potential beneficiary of the Samsung supply disruption, with elevated retail activity on Stocktwits indicating bullish sentiment towards the stock.
- Intel and SanDisk Performance: Intel's stock increased by 7.8% and SanDisk by 3.7%, reflecting a broader positive sentiment across the chip sector driven by various catalysts, although retail sentiment for both stocks remained cautious.
- NVIDIA Earnings Anticipation: Ahead of NVIDIA's earnings report, market sentiment is buoyant, with NVIDIA shares rising 1.51% in pre-market trading, as investors hope for strong results that could further boost AI-related stocks.
See More
RSP ETF 52-Week Price Analysis
- Price Fluctuation Analysis: The RSP ETF has a 52-week low of $173 per share and a high of $205.53, with the latest trade at $202.69, indicating stability and potential investment appeal in the current market.
- Technical Analysis Tool: Comparing the latest share price to the 200-day moving average provides investors with valuable insights for technical analysis, aiding in market trend assessment and investment timing.
- ETF Unit Trading Mechanism: ETFs trade similarly to stocks, where investors buy and sell 'units' that can be created or destroyed based on demand, impacting liquidity and market performance.
- Inflows and Outflows Monitoring: Weekly monitoring of changes in ETF shares outstanding highlights significant inflows (new units created) or outflows (old units destroyed), which can affect the underlying stocks held within the ETF and overall market performance.
See More
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- Uber Stake Expansion: Tepper purchased 4,482,720 shares of Uber in Q1, representing a 242% increase, and while most investors do not link Uber to the AI revolution, its platform relies on AI for route optimization and dynamic pricing, positioning it for sustained double-digit annual sales growth and reinforcing its dominance in the U.S. ride-sharing market.
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See More
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- Significant Revenue Growth: Nvidia reported a remarkable 65% revenue growth in fiscal 2026, reaching $215.9 billion with a net income of $120.1 billion, underscoring its dominant position in the data center GPU market and its pivotal role in the AI revolution.
- Strong Market Performance: Although Nvidia is no longer the top-performing AI stock, its market cap remains at $5.34 trillion, significantly outperforming the S&P 500, indicating sustained competitiveness and investor confidence in the company.
- Optimistic Q1 Expectations: Analysts project Nvidia's Q1 revenue to grow by 79.6% to $79.1 billion, with adjusted earnings per share doubling from $0.81 to $1.77, reflecting robust demand for its chips and strong market sentiment.
- Future Growth Potential: Despite limited short-term stock price movements, Nvidia's forward P/E ratio of 27 suggests strong growth potential, with expectations of reaching a $6 trillion market cap in the future, further boosting investor optimism.
See More
Reasons Behind Sandisk's Stock Surge
- Significant Revenue Growth: Sandisk's third-quarter revenue surged 251% year-over-year to $5.95 billion, primarily driven by demand from data centers and edge computing, showcasing the company's strong performance in the rapidly growing AI market.
- Soaring Gross Margin: The company's gross margin skyrocketed from 22.7% in Q3 2025 to 78.4%, surpassing industry leader Nvidia's 75%, indicating Sandisk's success in enhancing profitability and boosting investor confidence.
- Dramatic EPS Improvement: Sandisk's earnings per share skyrocketed from a loss of $0.30 to a gain of $23.41, reflecting a significant enhancement in the company's profitability under high demand conditions, prompting investors to reassess its intrinsic value.
- Optimistic Market Outlook: Despite Sandisk's forward P/E ratio of 24 being lower than the S&P 500's 22, investors should remain cautious due to the cyclical risks in the memory hardware industry, as the next five years may face the risk of a demand bubble.
See More
U.S. Stocks Edge Up, Led by Semiconductor Gains
- Market Recovery: The S&P 500 index rose by 0.27%, the Dow Jones Industrial Average increased by 0.09%, and the Nasdaq 100 index climbed by 0.55%, indicating a gradual recovery of some losses this week, driven by lower bond yields and strong semiconductor stock performance.
- Bond Yield Decline: The 10-year Treasury note yield fell by 2 basis points to 4.65%, as inflation expectations weakened due to a more than 2% drop in WTI crude oil prices, providing support for the bond market and potentially influencing future interest rate decisions.
- Semiconductor Sector Strength: Nvidia's stock rose by 0.6%, with the market keenly awaiting its upcoming earnings report, which is expected to show an 80% year-over-year increase in Q1 sales, providing crucial insights into the state of the AI economy and potentially impacting industry competition.
- Mortgage Applications Drop: U.S. MBA mortgage applications fell by 2.3% in the week ending May 1, with the purchase mortgage sub-index down 4.1%, reflecting that despite the average 30-year fixed mortgage rate rising to 6.56%, housing demand remains weak, which could have long-term implications for the real estate market.
See More
Chip Stocks Rise Amid Samsung Strike Concerns
- Samsung Strike Impact: Approximately 48,000 workers at Samsung Electronics are expected to strike for 18 days starting May 21 over bonus disputes, raising concerns about supply disruptions that have led to a rally in chip stocks, particularly benefiting Micron and Intel.
- Micron Stock Surge: Micron Technology's shares rose by 4.8%, as investors viewed it as a potential beneficiary of the Samsung supply disruption, with elevated retail activity on Stocktwits indicating bullish sentiment towards the stock.
- Intel and SanDisk Performance: Intel's stock increased by 7.8% and SanDisk by 3.7%, reflecting a broader positive sentiment across the chip sector driven by various catalysts, although retail sentiment for both stocks remained cautious.
- NVIDIA Earnings Anticipation: Ahead of NVIDIA's earnings report, market sentiment is buoyant, with NVIDIA shares rising 1.51% in pre-market trading, as investors hope for strong results that could further boost AI-related stocks.
See More
RSP ETF 52-Week Price Analysis
- Price Fluctuation Analysis: The RSP ETF has a 52-week low of $173 per share and a high of $205.53, with the latest trade at $202.69, indicating stability and potential investment appeal in the current market.
- Technical Analysis Tool: Comparing the latest share price to the 200-day moving average provides investors with valuable insights for technical analysis, aiding in market trend assessment and investment timing.
- ETF Unit Trading Mechanism: ETFs trade similarly to stocks, where investors buy and sell 'units' that can be created or destroyed based on demand, impacting liquidity and market performance.
- Inflows and Outflows Monitoring: Weekly monitoring of changes in ETF shares outstanding highlights significant inflows (new units created) or outflows (old units destroyed), which can affect the underlying stocks held within the ETF and overall market performance.
See More
Billionaire Bets on AI Revolution with Major Stock Moves
- Amazon Investment Surge: David Tepper increased his stake in Amazon to 2,140,609 shares in Q1, a 98% rise, which not only boosts his holdings in the e-commerce giant but also accelerates AWS sales growth through the integration of generative AI and large language models, solidifying Amazon's leadership in the cloud services market.
- Uber Stake Expansion: Tepper purchased 4,482,720 shares of Uber in Q1, representing a 242% increase, and while most investors do not link Uber to the AI revolution, its platform relies on AI for route optimization and dynamic pricing, positioning it for sustained double-digit annual sales growth and reinforcing its dominance in the U.S. ride-sharing market.
- New Position in Sandisk: Tepper added 281,250 shares of Sandisk, making it a top-12 holding for Appaloosa, as Sandisk's stock price skyrockets due to surging demand for AI data center infrastructure, with 2027 EPS estimates projected to leap from under $10 to over $171, indicating strong market potential.
- Optimistic Market Outlook: With the rapid advancement of AI technology, the diversified business models of Amazon and Uber are expected to benefit in future economic cycles, particularly in advertising and subscription services, which are anticipated to further enhance their market share and profitability.
See More
Nvidia's Path to a $6 Trillion Market Cap
- Significant Revenue Growth: Nvidia reported a remarkable 65% revenue growth in fiscal 2026, reaching $215.9 billion with a net income of $120.1 billion, underscoring its dominant position in the data center GPU market and its pivotal role in the AI revolution.
- Strong Market Performance: Although Nvidia is no longer the top-performing AI stock, its market cap remains at $5.34 trillion, significantly outperforming the S&P 500, indicating sustained competitiveness and investor confidence in the company.
- Optimistic Q1 Expectations: Analysts project Nvidia's Q1 revenue to grow by 79.6% to $79.1 billion, with adjusted earnings per share doubling from $0.81 to $1.77, reflecting robust demand for its chips and strong market sentiment.
- Future Growth Potential: Despite limited short-term stock price movements, Nvidia's forward P/E ratio of 27 suggests strong growth potential, with expectations of reaching a $6 trillion market cap in the future, further boosting investor optimism.
See More
