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Wall Street has a strange habit of worrying most when things are going well. We got a perfect example last week.
SanDisk Corporation (SNDK) reported fourth-quarter earnings of $39.25 per share, easily topping analysts’ expectations of $34.51 per share. Revenue surged 372% year-over-year to $8.97 billion, also beating estimates of $8.5 billion.
Those are the kinds of numbers that should send a stock higher. Instead, SanDisk shares fell 6.8% on Thursday – and another 3.7% on Friday.
Why? Well, SanDisk’s revenue outlook came in softer than expected.
