Overview
- The company reported blowout fiscal Q4 results for the quarter ended July 3, with about $8.96–$8.97 billion in revenue, roughly $6.9 billion in net income, and exceptionally high non‑GAAP gross margins around the mid‑80s.
- In mid‑August SanDisk presented a FY2028–2030 financial model that forecasts mid‑to‑high‑teen revenue growth, roughly 80% adjusted gross margins and 75% adjusted operating margins, and guided Q1 FY2027 revenue of $10.3–$10.8 billion.
- Management disclosed eight multi‑year New Business Models worth at least $93.9 billion on minimum pricing terms that it says cover a large share of expected NAND volume in 2027–2028.
- Wall Street has responded with a strong buy consensus and very high price targets—examples include Bernstein’s $3,000 and JPMorgan’s $2,250—pushing the stock to roughly $1,600 and keeping trading highly volatile.
- Key risks remain: faster NAND capacity additions, notably from Chinese suppliers such as YMTC, plus the memory market’s historical cyclicality and SanDisk’s concentrated customer and manufacturing links could quickly compress pricing and margins if supply rises.