SanDisk stock (NASDAQ: SNDK) is having the worst possible month as prices are skydiving in July. After reaching an all-time high above $2,350 in late June, SNDK dropped into the $1,200 range. It opened Tuesday’s trading bell at $1,278 and has slipped nearly 38% in a month. The correction is sharp and has cut retail investors’ portfolios, as institutional funds resort to profit-booking and sell-offs this month.

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Can SanDisk Fall Below $1,000? (SNDK)

Yes, SanDisk stock can fall below $1,000, as investors’ anxiety is increasing ahead of the upcoming Q2 earnings call scheduled on August 5, 2026. Concerns about the AI industry’s capex are high, as Alphabet recently announced in its earnings call that it is increasing its spending from $180 billion to $205 billion for 2026. While overspending is now old baggage, all eyes remain on NAND flash memory supply. The only thing that kept the semiconductor sector in line was the high demand and low supply.

If Samsung manages to ramp up production, making the supply move to oversupply, SanDisk stock can straightaway correct by another 10% to 20%. Therefore, SNDK falling to the $1,000 and the $950 range remains high if the development plays out. $1,000 is a massive psychological level and a major resistance zone for investors. A slip below this mark could make the memory maker weak in the charts compared to its competitors.

In addition, Citron Research had taken a short call on SanDisk stock after betting on the highly cyclical memory market. The short-selling fund had explicitly noted that the current tight memory supply is a temporary “mirage.” It explained that once Samsung resolves its bottleneck and floods the market with Solid State Drives (SSDs), SanDisk’s power to dominate pricing would evaporate. In conclusion, SanDisk is now walking on a thin rope, and only the Q2 earnings call could be its saving grace.