Sandisk beat Wall Street's targets for its fiscal fourth quarter, but it disappointed with an in-line outlook. Sandisk stock fell.

SanDisk stock has plunged by 50% from its highest level this year, with investors focusing on the upcoming earnings this week.

Sandisk stock dipped nearly 5% premarket ahead of Aug. 5 earnings. Wall Street expects $33.38 EPS on $8.24B revenue.