Overview
- The company reported fiscal 2026 results that closed on July 3 with fiscal Q4 revenue of $8.97 billion, full-year revenue of $20.2 billion, gross margin near 84.6%, and a swing to roughly $11.4 billion in net income.
- Sandisk said customers have signed long-term deals that lock in a floor price for $93.9 billion of revenue and include $16.5 billion in financial guarantees, shifting the business toward contract-backed datacenter SSD demand.
- The board approved an additional $14 billion repurchase authorization, bringing total remaining buyback power to $15.5 billion, and management said repurchases will be funded by the company’s outsized operating cash flow.
- Investors sent the stock lower after the company’s fiscal Q1 revenue guidance missed the consensus midpoint and a broader late-July semiconductor sell-off amplified losses, leaving the share price far below its mid-June peak.
- Analysts see near-term pricing and contract visibility as supportive but warn that new NAND capacity, including capacity from Chinese producers, could erode prices and margins over the next several years with implications for investors and datacenter customers.