Overview
- SanDisk shares extended gains after Bernstein raised its target to $1,000 from $580 and kept an outperform rating.
- Fiscal Q2 revenue rose 61% to $3.025 billion with gross margin at 50.9%, driving sharp increases in operating income and net income.
- Data center sales reached $440 million, up strongly on AI infrastructure adoption, while Edge brought in about $1.678 billion and Consumer $907 million.
- The company guided fiscal Q3 revenue to $4.4 billion–$4.8 billion and projected gross margin of 64.9%–66.9%, with adjusted EPS outlook of $12–$14 versus a year-ago loss.
- Analysts highlight a memory supercycle as AI data centers boost SSD demand while rival producers prioritize HBM, keeping NAND supply tight and prices elevated.