Why SanDisk stock plunged despite Wall Street's bullish outlook

SanDisk shares fell about 12.6 percent in a sharp selloff driven by profit-booking after its strong year-to-date rally, with broader weakness in semiconductor and AI-related stocks adding pressure. Despite the correction, Wall Street firms including Evercore ISI and Citi maintained bullish views, citing SanDisk's positioning to benefit from AI-driven storage demand and improving NAND market dynamics. Analysts view the pullback as a temporary correction within a longer-term growth story, with upcoming earnings as the next key catalyst.