Overview
- SanDisk posted fiscal Q2 revenue of $3.03 billion with GAAP net income of $803 million and non-GAAP EPS of $6.20, as non-GAAP gross margin rose to 51.1%.
- The company guided fiscal Q3 revenue to $4.4 billion–$4.8 billion with non-GAAP EPS of $12–$14 and gross margins approaching the mid‑60% range.
- AI-fueled demand for high-capacity enterprise SSDs and tight NAND supply supported higher pricing, with data center revenue reaching $440 million, up 76% year over year.
- Analysts lifted targets following results and guidance, including Bernstein to $1,000, Bank of America to $850, Barclays to $750, and Morgan Stanley to $690.
- Shares trade near all-time highs around $665 after triple‑digit gains, as some commentators caution on valuation and the memory market’s cyclical profit history.