Live updates: An AI credit bubble could set up bitcoin’s path to $1 million, says Arthur Hayes

AI bellwether Sandisk slides on soft outlook

Data storage company Sandisk (SNDK) easily beat top and bottom line estimates in its just-released fiscal fourth-quarter earnings report.

First-quarter revenue guidance, though, was just $10.3-$10.8 billion versus Street forecasts for $10.8 billion; EPS guidance was for $44-$46 against estimates for $45.58.

Shares are lower by 3.7% in after-hours trading. They slipped 5.4% during the regular session Wednesday.

Since being spun out of Western Digital in early 2025, SanDisk had been on a remarkable run, rising more than 50-fold to more than $2,300 per share earlier this summer. The stock has since retreated to the current $1,315.

Western Digital (WDC), meanwhile, also reported its quarter and guidance, and topped estimates for both. Shares, however, are slipping 9% in after-hours action.

Disclaimer: This article is for information only and does not constitute investment advice. Digital assets involve substantial risk.