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
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: 1642.000
Low
220.00
Averages
283.69
High
410.00
Current: 1642.000
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.
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- Optimistic Earnings Forecast: By the end of fiscal year 2027, Sandisk's earnings per share (EPS) is projected to reach $177.84, and if it trades at a 20x earnings multiple, the stock price could exceed $3,500, indicating substantial future growth potential.
- Capacity Constraints: Sandisk has sold out its production capacity for 2026, with 2027's capacity also being rapidly acquired, providing the company with a multi-year growth outlook that could lead to soaring profits.
- Price Volatility Risks: Future performance will hinge on whether the supply bottleneck persists into 2028; if it does, Sandisk's stock could potentially double, but if supply increases and prices fall, the company's targets may be challenged.
See More
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- Supply Shortage Impact: The surge in demand from the AI sector for data centers has led to a shortage of Sandisk's solid-state drives (SSDs), causing prices to soar and consequently boosting the company's revenue and profits.
- Optimistic Price Forecast: By the end of fiscal year 2027, Sandisk's earnings per share (EPS) is projected to reach $177.84, and if it trades at 20 times earnings, the stock price could exceed $3,500, indicating strong growth potential.
- Production Capacity Sold Out: Sandisk has sold out its production capacity for 2026, with demand for 2027 also rapidly increasing, providing the company with a multi-year growth outlook that could lead to significant profit increases.
- Market Competition Analysis: Despite Sandisk's impressive performance, the Motley Fool analyst team has not included it in their current list of top investment stocks, indicating a divergence in market sentiment regarding its future performance.
See More
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- Partnership Extension: Kioxia and Sandisk have extended their manufacturing joint venture until 2034, with Sandisk agreeing to pay Kioxia $1.165 billion in access fees in installments, further solidifying their collaboration at the world's largest flash memory production base.
- Revenue Growth: Kioxia's revenue surged 59% in fiscal 2025 and 37% in fiscal 2026, with analysts projecting a CAGR of 118% for revenue and 232% for net income from fiscal 2026 to 2028, indicating robust market potential.
- Market Valuation: Despite Kioxia's OTC shares trading at just 8.5 times this year's earnings, the market still views it as a cyclical memory stock rather than a high-growth AI stock, leading investors to consider waiting for its upcoming IPO in the U.S. for better returns.
See More
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- Market Impact: The S&P 500 and Nasdaq Composite dropped by 1.6% and 3.2%, respectively, indicating investor concerns about the upcoming SpaceX IPO, which could lead to a ripple effect on valuations of other growth stocks.
- Performance Highlights: Despite the current pullback, Sandisk's stock has risen 571% in 2026 and an astonishing 3,950% over the past year, showcasing strong sales and margin growth driven by soaring demand for AI memory solutions.
- Investor Sentiment: As enthusiasm for AI chip stocks wanes, Sandisk's valuation has seen significant increases, leading to heightened concerns among investors about potential market volatility that could affect its short-term performance.
See More
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- Market Volatility: On June 9, Wall Street closed lower as technology and chip stocks dragged down major indexes, with the S&P 500 slipping about 1.2% and the Nasdaq Composite falling roughly 1.6%, reflecting investor concerns over AI-linked semiconductor stocks.
- Investor Sentiment Shift: The market experienced swings between gains and losses in early trading as investors reacted to changing sentiment in the artificial intelligence sector, leading to declines in chipmakers and high-growth tech names, which added pressure to broader indexes.
- Defensive Stocks Resilience: Despite the overall market pullback, select consumer and defensive stocks showed resilience by posting gains, indicating that investors are still seeking safe investment options amid an uncertain market environment.
- Focus on Economic Data: Investors remained focused on upcoming economic data and Federal Reserve rate expectations, with traders pricing in continued uncertainty around inflation and potential policy tightening, reflecting a cautious outlook on future economic directions.
See More
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- Market Rebound: The S&P 500 Index rose by 0.93%, the Dow Jones Industrial Average increased by 0.89%, and the Nasdaq 100 Index climbed by 1.17%, indicating a sustained rebound in the artificial intelligence trade that boosts market confidence and investor sentiment.
- Crude Oil Price Decline: WTI crude oil prices fell by 2% to a one-week low, which lowered inflation expectations and provided support for stocks and bonds, reflecting a positive outlook for future economic growth.
- Strong China Trade Data: May exports rose by 19.4% year-on-year, exceeding expectations of 15.0%, while imports increased by 27.4%, surpassing the anticipated 26.0%, indicating positive signals for global economic recovery that could further drive market gains.
- Tech Stocks Lead Gains: Chipmakers and AI infrastructure stocks showed strong performance, with Lam Research up over 4%, and Applied Materials and KLA Corp both rising over 3%, suggesting that the recovery in the tech sector is driving overall market growth.
See More
