Why Sandisk Stock Fell Today After Being Up Big

Sandisk stock surged 7.2% early on Wednesday due to strong AI memory tech outlook but closed down 0.3% as inflation concerns and geopolitical tensions over Iran weighed on the market. The May CPI report showed inflation accelerated, prompting investor concerns about potential Fed rate hikes that could dampen appetite for high-flying tech stocks. Despite today's pullback, Sandisk remains up 592% year-to-date and 3,840% over the past year.