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SanDisk Opens Down Over 8.8% Despite 378% Year-over-Year Revenue Growth in Quarterly Results
12 hour ago /
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Author：小编
SanDisk shares opened more than 8.8% lower in U.S. trading on Friday. Although the company reported first-quarter revenue of $11.031 billion—up 378% year-over-year—non-GAAP earnings per share of $49.51, a gross margin of 85%, and second-quarter revenue guidance of $12.2 billion to $12.6 billion, the strong results failed to halt the selloff, as mounting market concerns over the company's lofty valuation and the sustainability of memory chip prices weighed on sentiment.
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