From The Motley Fool · Daniel Sparks · · 1m 10s
Sandisk Stock Drops Below $900
Sandisk stock fell back under $900 after a 12% drop since Wednesday, but the analyst says it's a buy with a small position.
In brief
Sandisk stock fell back under $900 after a 12% drop since Wednesday, but the analyst says it's a buy with a small position. Sandisk stock dropped to $860 after a 12% decline since Wednesday, but the analyst recommends starting with a small position. Originally reported by The Motley Fool.
Sandisk Stock Price
Sandisk stock fell back under $900 on Friday after dropping 12% since Wednesday's close.
Stock Guidance Unchanged
Sandisk's earnings guidance remains unchanged from its October 29 report with revenue between $12.2 billion and $12.6 billion.
Four Years of Profit
Even the low end of Sandisk's earnings outlook puts four years of profit above today's share price.
Price Drop Since Wednesday
Shares dropped about 8% on Friday to roughly $860 as of this writing, down 12% since Wednesday's close.
Stock Split Coming
Sandisk's eight-for-one stock split will begin on November 20, adjusting today's price to about $107.
Flash Pricing Risk
Sandisk's profits depend on flash pricing, which can drop quickly when supply catches up to demand.
Analyst Recommendation
The analyst recommends starting with a small position today and adding to it over time if the stock keeps sliding.
The key point
Sandisk stock dropped to $860 after a 12% decline since Wednesday, but the analyst recommends starting with a small position.
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