Why Is Sandisk Stock Still Dropping?

Why Is Sandisk Stock Still Dropping? Rich Smith, The Motley Fool Wed, August 19, 2026 at 12:13 PM EDT 3 min read SNDK NVDA ^GSPC Is Sandisk (NASDAQ: SNDK) stock overbought... and overpriced? Worries over a Morgan Stanley report yesterday, which compared the percentage of the S&P 500 index that is Sandisk stock versus the percentage Sandisk occupies in the portfolios of large institutional investors -- and concluded Sandisk is "over-owned" -- spooked investors yesterday. By close of trading, Sandisk stock had fallen 9%. Missed Nvidia in 2009? This Rare Signal Is Flashing Again.  In 2009, a "Double Down" signal flashed for a little-known chipmaker called Nvidia. For the first time in years, that same "Total Conviction" signal is flashing for a company 1/100th the size of Nvidia.  Continue » As we approach the mid-day mark Wednesday, Sandisk stock continues to drift lower -- down 2.2% as of 11:30 a.m. ET. Image source: Getty Images. Over-owned versus under-owned Morgan Stanley's number-crunchers did what they do, calculating percentages and concluding that certain tech stocks, including Apple , Microsoft , and Amazon , are all "under-owned" (because institutions don't own as much of them as S&P does). Other stocks, and Sandisk in particular, are conversely "over-owned" -- because they're more popular on Wall Street. But here's the thing: Analysts surveyed by S&P Global Market Intelligence predict Apple will grow earnings at about 13% over the next five…