SanDisk Stock Plummets on Guidance Shock

SanDisk's financial results for its fourth fiscal quarter have been overshadowed by a guidance shock that has led to a significant drop in its stock price.

The company reported an 8.97 billion US-dollar quarter, a 372 percent year-over-year revenue surge, and a share price that has shed 30.92 percent in a month.

The market's reaction was harsh, with the shares falling to 1,050.00 euros by Friday's close, a single-day drop of 4.55 percent.

The main concern is management's guidance for the coming quarter, which fell short of Wall Street forecasts, with analysts expecting revenue of 12.3 billion US dollars and SanDisk guiding towards 10.3 to 10.8 billion US dollars.