SanDisk Crushes Earnings Estimates but Gets Hammered, While Cisco Prepares for Solid Report

Cisco Systems has delivered a 100% profit for investors who closed their positions recently, while SanDisk got hammered despite crushing earnings estimates.

SanDisk dropped by over 7% at the open on Thursday, despite beating earnings estimates by 12%. The company's revenue came in about 6% stronger than expected, but its forward guidance was tepid. Over the past 12 months, SanDisk has gained an impressive 2,950%, but it declined by 43% over the past six weeks.

Jeffries maintained a buy rating for SanDisk while cutting its price target nearly in half, from $3,000 to $1,750. Citigroup also kept its buy rating but lowered its target price from $2,500 to $2,100. The stock's chart has been hinting at trouble since it peaked above $2,300 in June.

Cisco Systems, on the other hand, is scheduled to report earnings after August 12 and has reached an all-time high in June. Since then, its shares have slid by 6.5%. The company's chart gives no indication that earnings or revenues will disappoint analysts.