Sandisk shares fell between 4.9% and 5.8% on October 8, 2026, closing around $1,609 despite Mizuho raising its price target to $2,050 while maintaining its Outperform rating. The company’s market capitalization stood between $230 and $243 billion during the downturn, pressured by mixed economic signals and uncertainty over AI infrastructure buildout pacing. Reports of OpenAI pausing model training since late September have amplified concerns, with investors questioning the actual pipeline demand for AI data storage. Peer Micron showed similar weakness, suggesting a sector-wide reassessment rather than a company-specific verdict. Sandisk’s fiscal Q1 2027 results, scheduled for October 29, 2026, will be critical in restoring investor confidence.
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