SanDisk Corp.'s stock experienced a 6.26% plunge in post-market trading on Friday, following the release of its fiscal third-quarter financial results which significantly exceeded Wall Street expectations.

The flash-storage company reported adjusted earnings per share of $23.41, beating the consensus estimate of $14.62, while revenue reached $5.95 billion, far surpassing expectations of $4.72 billion. The company also issued strong fourth-quarter guidance projecting adjusted EPS between $30.00 and $33.00 on revenue of $7.75 billion to $8.25 billion.

Despite the stellar performance, the stock declined as investors engaged in profit-taking after a monumental rally that saw SanDisk's shares surge approximately 3,300% over the past 12 months and about 360% year-to-date. Analysts suggest the "sell-the-news" reaction indicates that even these blowout results may have been fully priced into the stock after its AI-driven storage super-cycle narrative propelled it to all-time highs, with the guidance failing to provide the additional "wow factor" needed to sustain the breakneck momentum.