Financial Data and Key Metrics Changes - Revenue for the second quarter was $3,025 million, up 31% quarter-over-quarter and 61% year-over-year, exceeding guidance of $2,550 million-$2,650 million [16] - Non-GAAP gross margin for the second quarter was 51.1%, up from 29.9% in the prior quarter, driven by higher pricing and unit cost reductions [16][17] - Non-GAAP EPS for the second quarter was $6.20, up from $1.22 in the prior quarter, reflecting higher than expected revenue and lower costs [17] Business Line Data and Key Metrics Changes - Data center revenue was $440 million, up 64% sequentially, driven by increased demand for enterprise SSDs [16][8] - Edge revenue was $1,678 million, up 21% sequentially, with demand exceeding supply due to AI adoption [16][9] - Consumer revenue was $907 million, up 39% quarter-over-quarter, with a shift towards premium products [16][10] Market Data and Key Metrics Changes - The NAND market is experiencing structural evolution driven by AI, leading to higher demand across all end markets [12][13] - The data center market is expected to become the largest market for NAND by 2026, with significant growth in exabyte demand [21][70] - Pricing across segments is moving in tandem, with NAND flowing to the most attractive markets [85] Company Strategy and Development Direction - The company is transitioning to multi-year agreements with customers to ensure supply certainty and better align planning cycles [5][6] - Continued investment in R&D and capital expenditures is essential to support innovation and meet long-term demand [11][19] - The focus remains on disciplined execution and strategic partnerships to maximize value creation across diversified customer segments [15][19] Management's Comments on Operating Environment and Future Outlook - Management noted that customer demand is expected to remain well above supply beyond calendar year 2026, necessitating careful allocation planning [11] - The company anticipates a reset of margins at a structurally higher level, driven by innovation and investment in technology [22] - Management expressed optimism about the evolving market dynamics and the increasing importance of NAND in AI infrastructure [21][70] Other Important Information - The company closed the quarter with $1,539 million in cash and cash equivalents and $603 million in debt, with a net cash position of $936 million [18] - An agreement was reached with Kioxia to extend the Yokkaichi joint venture through December 31, 2034, ensuring continued product supply [19] - Guidance for the third quarter expects revenue between $4.4 billion and $4.8 billion, with non-GAAP gross margin projected between 65% and 67% [20] Q&A Session All Questions and Answers Question: How are you thinking about long-term agreements? - Management acknowledged the pros and cons of long-term agreements, emphasizing the need for confidence in sustained demand and attractive pricing [24][30] Question: Any plans to add supply given the current undersupply situation? - Management indicated that supply plans are in place, and they are focused on meeting customer demand while ensuring profitability [25][35] Question: Can you quantify incremental demand for NAND related to AI infrastructure? - Management noted that exabyte demand in the data center is forecasted to grow significantly, driven by AI, with high 60s exabyte growth expected for 2026 [47] Question: How should we think about capital return plans, particularly around share repurchases? - Management stated that the priority is to continue investing in the business and reducing debt, with capital return plans to be evaluated at the right time [49] Question: Can you provide an update on the product roadmap to meet new performance requirements? - Management highlighted ongoing innovation in high-performance products and the development of new technologies to meet the demands of AI [87][89]

Financial Data and Key Metrics Changes - Revenue for the second quarter was $3,025 million, up 31% quarter-over-quarter and 61% year-over-year, exceeding guidance of $2,550-$2,650 million [16] - Non-GAAP gross margin for the second quarter was 51.1%, up from 29.9% in the prior quarter, and above guidance of 41%-43% [16] - Non-GAAP EPS for the second quarter was $6.20, up from $1.22 in the prior quarter, exceeding guidance of $3.00-$3.40 [17] Business Line Data and Key Metrics Changes - Data center revenue was $440 million, up 64% sequentially, reflecting strong demand driven by AI workloads [16][8] - Edge revenue was $1,678 million, up 21% sequentially, with demand exceeding supply due to AI adoption [16][9] - Consumer revenue was $907 million, up 39% quarter-over-quarter, with a shift towards premium products [16][10] Market Data and Key Metrics Changes - The NAND market is undergoing structural evolution driven by AI, with data center expected to become the largest market for NAND in 2026 [12][21] - Higher demand for NAND in data centers is impacting other markets, leading to overall growth across segments [13] - The company anticipates continued strong demand well above supply beyond calendar year 2026 [11] Company Strategy and Development Direction - The company is transitioning to multi-year agreements with customers to ensure supply certainty and better align planning cycles with demand [5][6] - Focus on disciplined execution through the BiCS8 transition, supporting average long-term bit growth in the mid to high teens [11] - Continued investment in R&D and capital expenditures to support advanced semiconductor technologies [11][19] Management's Comments on Operating Environment and Future Outlook - Management noted that the NAND industry is becoming more durable and structurally attractive with higher average returns [6] - The company expects margins to reset at a structurally higher level, delivering fair returns on innovation and investment [22] - Management expressed optimism about the evolving business practices in the data center market, which is becoming increasingly strategic [70] Other Important Information - The company closed the quarter with $1,539 million in cash and cash equivalents and $603 million in debt, with a net cash position of $936 million [18] - An agreement was reached with Kioxia to extend the Yokkaichi joint venture through December 31, 2034, ensuring continued product supply [19] - For the third quarter, the company expects revenue between $4.4-$4.8 billion and non-GAAP gross margin between 65% and 67% [20] Q&A Session All Questions and Answers Question: How are you thinking about long-term agreements? - Management acknowledged the pros and cons of long-term agreements, emphasizing the need for confidence in demand and pricing stability [24][30] Question: Any plans to add supply given the current undersupply situation? - Management indicated that supply plans are in place, and they are focused on meeting customer demand while ensuring profitability [25][35] Question: Can you quantify incremental demand for NAND related to AI infrastructure? - Management noted that data center exabyte growth is forecasted to be high 60s for 2026, driven largely by AI [47] Question: How should we think about capital return plans, particularly around share repurchases? - Management stated that the priority is to continue investing in the business and reducing debt, with capital return plans to be evaluated at the right time [48] Question: Can you provide an update on the product roadmap to meet new performance requirements? - Management highlighted ongoing innovation in high-performance products and the introduction of new technologies to meet AI demands [87]

Financial Data and Key Metrics Changes - Revenue for the second quarter was $3,025 million, up 31% quarter-over-quarter and 61% year-over-year, exceeding guidance of $2,550-$2,650 million [15] - Non-GAAP gross margin for the second quarter was 51.1%, up from 29.9% in the prior quarter, and above guidance of 41%-43% [15] - Non-GAAP EPS for the second quarter was $6.20, up from $1.22 in the prior quarter, exceeding guidance of $3.00-$3.40 [16] Business Line Data and Key Metrics Changes - Data center revenue was $440 million, up 64% sequentially [15] - Edge revenue was $1,678 million, up 21% sequentially [15] - Consumer revenue was $907 million, up 39% quarter-over-quarter [15] Market Data and Key Metrics Changes - The NAND market is experiencing structural evolution driven by AI, with data center demand significantly increasing [11] - Bids were up 22% year-over-year and low single digits quarter-over-quarter [15] - The company expects the data center to become the largest market for NAND in 2026 [20] Company Strategy and Development Direction - The company is transitioning to multi-year agreements with customers to ensure supply certainty and better align planning cycles with demand [4] - Focus on disciplined execution and innovation in NAND technology to support long-term demand and profitability [10] - Continued investment in R&D and capital expenditures to maintain competitive advantage in the NAND market [18] Management's Comments on Operating Environment and Future Outlook - Management noted that customer demand is expected to remain well above supply beyond calendar year 2026 [10] - The company anticipates a structural shift in the NAND market that will reduce cyclicality and create higher long-term margins [11] - Management expressed optimism about the evolving business practices in the data center market, which is becoming increasingly strategic [70] Other Important Information - The company generated $843 million in adjusted free cash flow, representing a 27.9% free cash flow margin [17] - The Yokkaichi joint venture with Kioxia has been extended through December 31, 2034, ensuring continued product supply [18] - The company plans to maintain capital expenditure plans while supporting mid- to high-teens bit growth through the BiCS8 transition [12] Q&A Session Summary Question: How are you thinking about long-term agreements given the rapid price increases? - Management acknowledged the pros and cons of long-term agreements and emphasized the need for confidence in sustained demand to justify such agreements [24][29] Question: What are your plans regarding supply-demand balance and potential supply additions? - Management indicated that they are focused on aligning supply with long-term demand and are cautious about increasing capital spending without visibility into sustained demand [25][34] Question: Can you quantify incremental demand for NAND related to AI infrastructure? - Management noted that they are seeing significant increases in exabyte demand in the data center, projecting high 60s exabyte growth for 2026, primarily driven by AI [47] Question: What is the breakdown between TLC and QLC in the Enterprise SSD opportunity? - Management stated that the current mix is predominantly TLC, with QLC products expected to contribute to growth once they begin shipping [42] Question: How do you view the urgency of customers committing to NAND supply? - Management expressed that there is a growing urgency among customers, particularly in the data center market, to secure supply commitments for the future [68]

每经AI快讯，1月30日消息，闪迪第二财季营收30.3亿美元；第二财季经调整每股收益6.2美元；预计第 三财季营收44-48亿美元；预计第三财季经调整每股收益12-14美元。 ...

Market Overview - The stock market closed mostly lower, with the Dow managing to finish slightly in the green, while the NASDAQ experienced its worst day in several months [1][2][3] - The S&P 500 ended with a minor loss of about 13 basis points, while the Russell 2000 small-cap index was also slightly down [3] Company Performance - Microsoft saw a significant drop, down approximately 10% at its lows, marking its worst performance in several months [4] - Tesla also declined by 3%, while Meta's stock rose by 10%, contributing to a strong performance in the communication services sector [4][5] - SanDisk reported a revenue of $3.03 billion, exceeding expectations of $2.68 billion, and its earnings per share came in at $620, significantly higher than the expected $344 [22][23] - SanDisk's stock has surged over 90% year-to-date, driven by high demand for memory products in the AI sector [24][25] Sector Analysis - The communication services sector reached a record high, while technology was the worst-performing sector, down 1.6%, primarily due to poor performance in software stocks [5][6] - The software industry faced widespread declines, with companies like SAP down 15% and Atlassian down 10% [6][7] - In the semiconductor space, companies like Lamb Research and KLA saw gains of about 3.5%, indicating a mixed performance within the sector [7] Geopolitical Impact on Oil - Crude oil prices rose to their highest levels since September, influenced by President Trump's threats of military action against Iran, which has led to a risk premium in the oil market [11][12] - Analysts noted that the market is not currently pricing in a full-scale conflict but is reacting to operational signals and geopolitical tensions [12][13] Housing Market Insights - US mortgage rates are holding steady at 6.1%, the lowest in three years, but housing affordability remains a challenge due to high home prices [44][45] - The "lock-in effect" is causing homeowners with low-rate mortgages to keep their homes off the market, contributing to tight inventory levels [48][50] - New home listings have increased, but they are still 20% below pre-pandemic levels, indicating a slow recovery in housing supply [50][56] Future Outlook - Analysts expect continued high demand for memory products, particularly in AI infrastructure, but caution against potential oversupply in the future as production ramps up [39][42] - The housing market may see improvements in inventory levels, but significant policy changes at the state and local levels are needed to address long-term supply issues [52][56]

Core Insights - Sandisk significantly exceeded consensus estimates for its fiscal second-quarter results, leading to a surge in its stock price during extended trading [1] Financial Performance - Sandisk reported an adjusted earnings of $6.20 per share on sales of $3.03 billion for the quarter ended January 2 [1] - Analysts had anticipated earnings of $3.62 per share on sales of $2.69 billion, indicating a substantial outperformance [1] Market Reaction - Following the announcement of its strong financial results and guidance, Sandisk's stock experienced a notable increase [1] - The memory-chip sector is being referred to as "the new gold," highlighting the growing investor interest in memory stocks [1]

Fiscal Second Quarter 2026 Financial Results Quarter ended January 2, 2026 Forward-Looking Statements This presentation contains forward-looking statements within the meaning of U.S. federal securities laws, including, but not limited to, statements regarding expectations for: Sandisk Corporation's (the "Company's") business outlook and operational and financial performance for the fiscal third quarter of 2026 and beyond; the Company's market positioning; the alignment of the Company's technology and produc ...

The data storage technology company posted a second-quarter profit of $803 million, up from $104 million a year earlier. ...

本文源自：金融界AI电报 闪迪(SNDK.O)第二季度营收为30.25亿美元，而IBES预估为26.38亿美元。闪迪公司第三季度营收展望 为44亿至48亿美元。 ...

Core Viewpoint - SanDisk Corp. reported strong second-quarter earnings, significantly exceeding analyst expectations in both earnings per share and revenue, leading to a notable increase in stock price. Financial Performance - Quarterly earnings were reported at $6.20 per share, surpassing the analyst consensus estimate of $3.12 by 98.53% [2] - Quarterly sales reached $3.025 billion, exceeding the analyst consensus estimate of $2.599 billion by 16.41% [2] Revenue Growth - Data center revenue increased by 64% from the previous quarter, attributed to strong demand from AI infrastructure builders and technology companies [3] Management Commentary - The CEO of SanDisk highlighted the company's ability to adapt to market demands and capitalize on a favorable product mix, emphasizing the importance of their products in supporting AI and technology [4] Future Outlook - For the third quarter, SanDisk anticipates adjusted EPS between $12 to $14, significantly higher than the $3.63 analyst estimate, and revenue expectations of $4.4 billion to $4.48 billion, compared to the $2.62 billion analyst estimate [5] - Following the earnings report, SanDisk's stock price increased by 15.38% to $622.21 in extended trading [5]