SanDisk Dips in Premarket as Earnings Preview Weighs on Memory Stocks
TL;DR Summary
SanDisk shares slipped about 5% in premarket trading as investors cabin ahead of its Aug. 5 earnings report, with memory-chip peers Micron MU, Western Digital WDC and SK hynix SKHY also weaker. Wall Street expects SanDisk to report roughly $33.38 per share on about $8.24 billion in revenue. While the stock remains in a longer-term uptrend, momentum has cooled in the near term, with shares trading below key moving averages; investors will be watching for guidance on demand in a memory market facing competitive pressure.
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