Western Digital (WDC) & SanDisk (SNDK) Stocks Slip on a Share Swap

Western Digital (WDC) and SanDisk (SNDK) stocks were down on Wednesday after the former announced a share swap. Western Digital, which bought SanDisk in 2016 and then spun off the business in 2025, said it will exchange 653,203 shares of SNDK for 1,865,801 shares of WDC. This will leave it with 1,038,681 shares of SNDK stock after the exchange is completed on Thursday.

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Western Digital also made clear to investors that it doesn’t intend to hold on to its remaining stake in SanDisk. Instead, the company said that it will dispose of these shares through “one or more subsequent exchanges for WD debt held by WD creditors and/or in exchange for outstanding shares of WD common stock and/or through distributions to WD stockholders as dividends.”

Western Digital’s stock exchange and dedication to divesting its stake in SanDisk suggest the company has high confidence in its own performance in the memory market. This is a sector that has undergone massive gains recently, as the demand for computer storage has increased due to the AI boom.

Western Digital and SanDisk Stock Movements Today

Western Digital stock was down 1.17% on Wednesday but was still up 167.05% year-to-date. The stock has also gained 950.25% over the past 12 months. Trading activity today saw some 1.79 million shares change hands, compared to a three-month average daily trading volume of about 8.06 million shares.

SanDisk stock was down 3.53% on Wednesday but was still up 489.19% year-to-date. The stock has also climbed 3,921.5% over the past 12 months. Trading activity today saw some 3.49 million shares change hands, compared to a three-month average daily trading volume of about 17.78 million shares.

WDC vs. SNDK: Which Stock Do Analysts Prefer?

Turning to the TipRanks stock comparison tool, traders can see which of these shares analysts prefer. Western Digital and SanDisk both have consensus Strong Buy ratings. However, WDC stock offers the higher upside potential at 10.44%, compared to a possible 4.03% upside for SNDK stock.