Sandisk (SNDK) and Western Digital (WDC) are scheduled to release their quarterly earnings on Wednesday, August 5. Analysts are projecting a substantial increase in Sandisk's earnings per share, expecting a dizzying +11,706% surge to $34.24, up from $0.29 in the previous year. Revenue forecasts for Sandisk stand at $8.30 billion, a +336.6% increase from $1.90 billion last year.
For Western Digital, the Street anticipates an earnings per share of $3.35, representing a +101.8% rise from $1.66 year-over-year. Revenue expectations for Western Digital are set at $3.70 billion, compared to $2.61 billion in the prior year, marking a +42.2% increase.
Analyst sentiment for Sandisk has been mixed. Susquehanna recently lowered its price target on July 23, from $3,250 to $3,050, while maintaining a Positive rating. Conversely, Wells Fargo raised its price target for Sandisk to $1,620 from $1,250 on July 22, while keeping an Equal Weight rating. Western Digital has seen less analyst activity, though Wells Fargo upgraded its rating to Overweight from Equal Weight on July 10, with a price target increase to $1,100.
