Sandisk posts $11 billion revenue as AI memory demand drives results

what happened

According to TradingView, Sandisk (SNDK) reported first-quarter revenue of $11.03 billion, up 378% year over year. Non-GAAP earnings per share came in at $49.51, and the adjusted gross margin reached 85.1%. Data-center sales totaled $4.80 billion. The company also announced an 8-for-1 forward stock split and a $5 billion share buyback, and guided second-quarter revenue to $12.2–12.6 billion.

The stock closed at $1,330.05 on October 29. Analysts kept their ratings unchanged but revised price targets to between $1,300 and $2,720, implying a wide range of upside and downside. JPMorgan reiterated its Overweight rating, pointing to long-term customer contracts and sustained AI-driven storage demand through the decade.

The summary also says KV cache could account for roughly 33% of the AI data-center flash market by 2030, with HBF samples expected in 2027.

why it matters

For markets, the report signals that demand for flash memory tied to AI remains strong, though analyst forecasts vary widely. The source is an AI-generated summary that may contain inaccuracies, so key figures should be checked against original filings.

market impact

Sandisk shares: strong results and buyback support interest in the stock

• ▲Sandisk shares (SNDK) pressure up — strong revenue and margins plus a $5 billion buyback program

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instruments