SanDisk Shares Drop Amid Chip Market Volatility as Investors Trim Descartes Holdings

SanDisk (SNDK) stock fell 6.5% on Friday, erasing earlier gains despite Citi’s upbeat outlook that high demand for AI and memory chips will keep sales strong through 2030. The brokerage also highlighted Intel’s earnings beat and rapid growth in AI‑related processor sales, which it said should support chip makers like SanDisk.

In a separate investor‑activity report, Bessemer Group reduced its holding in The Descartes Systems Group (DSGX) by 93.5%, selling 185,693 shares and ending the quarter with 12,803 shares worth about $914,000. Other institutions adjusted positions: Clearbridge increased its stake, Norges Bank opened a new position, Vanguard added shares, BNP Paribas enlarged its holding, and Peregrine Capital entered with a new stake. Institutional investors now own roughly 77.7% of Descartes.