Overview
- SanDisk reported a blowout quarter with $5.95 billion in revenue, a 97% sequential rise, and $23.41 in non‑GAAP earnings per share, and it guided for revenue growth of 30–38% and EPS growth of 28–41% for the next quarter.
- The company disclosed roughly $11 billion in financial guarantees tied to new contracts and about $42 billion in signed backlog, which management says provides multiyear commercial visibility.
- Investors have rewarded the results with a dramatic share-price run since the February 2025 Nasdaq listing, with the stock up roughly 4,885% from its IPO level and multiple firms raising price targets into the high two‑thousands and beyond.
- The rally is driven by hyperscaler AI deployments that have outpaced NAND capacity and given suppliers pricing power because adding flash fab capacity typically takes many quarters to complete.
- Key risks include very high valuation, near‑term market volatility and the potential for faster capacity additions from competitors such as YMTC, and investors will watch upcoming production plans and next earnings for signs the supply gap is closing.