Overview
- SanDisk posted a blowout quarter on April 30, 2026, reporting $5.95 billion in revenue and $23.41 in non-GAAP EPS driven by a sharp shift into data-center storage.
- The company's data-center revenue jumped to $1.47 billion, reflecting rapid adoption of flash storage for AI workloads and management's view that mix is moving toward higher-value enterprise customers.
- Reports of roughly $42 billion in multi-year supply agreements have given the company unusual revenue visibility and helped lift institutional trading and investor demand.
- Wall Street has turned decidedly bullish, with several firms raising ratings and price targets including Mizuho's $2,200 target, even as critics warn stretched valuations after huge year-to-date gains.
- Investors are watching NAND and HDD pricing, contract execution and the next earnings cycle for signs the AI-driven rebound will sustain margins or revert to the memory market's historical cycles.