Overview
- SanDisk shares jumped 9.6% Tuesday after Jim Cramer’s bullish posts, extending a roughly 480% year-to-date surge and setting an intraday record near $1,419.
- The company’s April 30 report showed fiscal Q3 revenue of about $5.95 billion and GAAP net income of roughly $3.615 billion as data-center demand accelerated.
- Management guided for fiscal Q4 revenue of $7.75 billion to $8.25 billion with non-GAAP earnings of $30 to $33 per share, signaling unusual near-term strength.
- Executives disclosed five multi-year supply agreements, with three implying about $42 billion in minimum revenue and more than $11 billion in combined financial guarantees.
- Analysts raised price targets as tight industry capacity and AI data-center builds boosted pricing power, though some warn the cyclical nature of NAND and overbought signals could prompt pullbacks and keep device and cloud storage prices elevated in the near term.