SanDisk Loses $24 Billion as Samsung Selloff Erases 80% of Investor Day Rally

한국어로 보기

SanDisk shares fell more than 10% Monday as disappointment over Samsung Electronics’ shareholder return plan spread across the global memory and storage sector.

SNDK traded near $1,433 at 9:58 a.m. Eastern Time, down $163.08, or 10.22%, from Friday’s $1,596.08 close. The stock opened at $1,494.09 and fell to an intraday low of $1,432.01, according to real time market data.

Using SanDisk’s 146.42 million outstanding shares, the decline removed approximately $23.88 billion from the company’s market capitalization. Its implied equity value fell to about $209.82 billion.

Samsung’s 9% Drop Spreads Across Memory Stocks

The sector wide selloff followed an approximately 9% decline in Samsung Electronics shares in South Korea.

Samsung announced plans to return between 90 trillion won and 110 trillion won, approximately $65 billion to $80 billion, to shareholders during 2026. The program includes approximately 30 trillion won in third quarter cash dividends.

Samsung also approved a 15 trillion won share buyback intended for employee compensation. However, it did not announce a broader share cancellation commitment comparable with the program recently introduced by SK hynix.

The remaining shareholder returns will be determined in January 2027 and may include dividends, share repurchases and cancellations, according to Samsung’s official announcement.

Investors had expected greater clarity on how much of Samsung’s cash would be used for buybacks and cancellations. The uncertainty helped produce Samsung’s worst trading session in three weeks.

SK hynix previously approved a separate program to repurchase and cancel 40 trillion won, or approximately $28.6 billion, of its shares. The company plans to acquire roughly 24.07 million shares, representing about 3.3% of its issued stock, between August 20 and November 19.

Early US trading showed losses across several memory and storage companies, including SanDisk, Micron Technology, SK hynix’s American depositary shares, Seagate Technology and Western Digital.

SanDisk recorded the largest percentage decline among those companies during the early trading period reviewed.

No New SanDisk Earnings Report or Guidance Cut

SanDisk had not released new earnings, reduced its financial guidance or announced a material operating setback before Monday’s decline.

The company’s latest major strategy update came during its August 13 Investor Day.

SanDisk projected mid to high teen annual revenue growth between fiscal 2028 and fiscal 2030. It also outlined long term non GAAP gross margins of approximately 80% and operating margins of roughly 75%.

The company said its multiyear customer agreements represented approximately 50% of expected fiscal 2027 bit production and around two thirds of fiscal 2028 production, according to its Investor Day announcement.

The absence of a new SanDisk disclosure indicates that Monday’s decline was tied primarily to the broader memory sector selloff rather than a newly announced company specific setback.

SanDisk Erases 80% of Its Investor Day Rally

SanDisk closed at $1,344.29 on August 12, immediately before its Investor Day announcement.

The shares subsequently climbed to $1,786.85 by August 17, gaining $442.56 per share. Based on the current share count, that advance added approximately $64.8 billion to SanDisk’s market capitalization.

Monday’s decline to $1,433 left the stock $353.85 below its August 17 closing level.

That retreat removed approximately $51.8 billion in market value and erased almost 80% of the price increase recorded between August 12 and August 17.

Despite the reversal, SanDisk remained approximately 6.6% above its pre Investor Day closing price. The stock was also about 39.1% below its 52 week high of $2,354.39.

SanDisk Tokenized Stock Falls on Binance

SanDisk Tokenized bStock also moved lower.

At Binance’s stated update time of 10:46 UTC, SNDKB traded at approximately $1,517.45, representing a 4.48% decline over the preceding 24 hours.

Binance reported:

• A tokenized market capitalization of approximately $32.3 million
• Trading volume of around $22.4 million over 24 hours
• A circulating supply of approximately 21,300 SNDKB

The Binance figures were recorded before the later $1,433 quote for the underlying Nasdaq stock. SNDKB’s rolling 24 hour return also uses a different measurement period from SNDK’s regular market session.

The difference therefore does not indicate that tokenized traders were necessarily more optimistic about SanDisk. It primarily reflects different timestamps, trading windows and market liquidity.

What the Decline Means for SNDK and SNDKB

The available evidence supports a sectorwide memory selloff rather than a new deterioration in SanDisk’s operating outlook.

Samsung’s record shareholder return plan disappointed investors because it did not provide the level of buyback and cancellation clarity offered by SK hynix. That reaction spread from Asian memory shares to US listed storage companies.

SanDisk experienced the largest early decline among the major companies compared, partly reversing the valuation increase that followed its Investor Day.

The immediate pressure on SNDK and SNDKB is therefore connected to a broader reassessment of memory sector valuations. SanDisk’s next company specific test will be whether it can deliver the revenue growth, margins and customer commitments outlined during its Investor Day.