Time for a SanDisk Breather After Earnings
July 16, 2014 by Jon C. Ogg
SanDisk did not offer its guidance in the press release, so investors had to wait for the conference call. Its estimates for the next quarter are $1.57 EPS and $1.74 billion in revenue, and for 2014 the consensus estimates are $6.09 EPS and $6.73 billion in revenues.
SanDisk’s stock performance ahead of earnings created a conundrum for investors. Coming into this week, SanDisk’s stock was up almost 40% in the past quarter, and its stock was up by almost 50% since the end of 2013 — and shares had doubled off the 52-week low.
Unfortunately, the report so far is not good enough to please the SanDisk bulls. The stock closed up over 2% at $107.83 on the day, near an all-time high. The after-hours reception had shares down almost 6% at $101.25.
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