Core Insights - Sandisk reported strong earnings for the September quarter, exceeding analyst expectations, and provided an optimistic outlook for the December quarter driven by robust demand from AI data centers [1][2][3] Financial Performance - For the fiscal first quarter ended October 3, Sandisk earned an adjusted $1.22 per share on sales of $2.31 billion, surpassing analyst expectations of $0.88 per share and $2.15 billion in sales [2] - Year-over-year, Sandisk's earnings declined by 33%, while sales increased by 23% [2] - For the current fiscal Q2, Sandisk anticipates adjusted earnings of $3.20 per share on sales of $2.6 billion, exceeding analyst forecasts of $1.79 per share and $2.23 billion in sales [3] Market Position and Stock Performance - Sandisk is currently engaged with five major hyperscale data-center customers, indicating strong market demand [4] - The stock price rose by 15.3% to close at $239.48, reaching a record high of $239.99 during the session [4] - Following the positive earnings report, at least 11 Wall Street analysts raised their price targets for Sandisk stock, with Morgan Stanley increasing its target from $230 to $263 [5] Analyst Commentary - Analysts noted that Sandisk's performance exceeded high expectations, with durable strength in the data center segment and limited supply growth suggesting an ongoing upcycle [6]
Sandisk Surges On Strong Data Center Memory-Chip Sales