Sandisk is joining the S&P 500 today after a huge runup in its shares. Qin Zihang / VCG via Getty Images Close Key Takeaways Shares of Sandisk climbed Friday as the data storage company joined the benchmark S&P 500 index. Sandisk's (SNDK) stock jumped close to 11% Friday morning before paring back much of its early gains. Its shares, which have been lifted by demand driven by the AI boom, are among the hottest around this year; the company was spun off from Western Digital (WDC) in February, and the stock i ...

Financial Performance - Funds From Operations (FFO) reached $654 million, a 9% increase compared to the prior year[8, 11] - FFO per unit increased to $083, up from $076 in the previous year[8] - Adjusted Funds From Operations (AFFO) totaled $460 million, compared to $432 million in the prior year[8] - The distribution per unit was $043, representing a 6% increase year-over-year[8, 11] - The payout ratio was 67%, within the target range of 60-70%[8, 11] Strategic Initiatives and Capital Deployment - $990 million of growth capital expenditures were deployed to expand capacity across various business segments[14] - $1 billion was invested in total BIP equity for the acquisitions of a U S pipeline system and a U S fiber network[14] - Approximately $700 million of capital recycling proceeds were secured, bringing the year-to-date total to over $3 billion[14] Balance Sheet and Liquidity - Total assets increased to $124299 billion as of September 30, 2025, compared to $104590 billion at the end of 2024[9] - Current liquidity stands at $55 billion, including $25 billion of corporate liquidity[14] - Corporate borrowings amounted to $5263 billion[9]

Core Insights - Shares of Western Digital Corp. experienced a significant increase following the release of better-than-expected fiscal first-quarter earnings and stronger guidance, driven by ongoing demand from hyper-scale customers [1] Financial Performance - Western Digital reported fiscal first-quarter earnings that exceeded market expectations, indicating robust financial health and operational efficiency [1] - The company provided stronger guidance for future performance, suggesting confidence in continued growth and demand in the data storage sector [1] Market Demand - The surge in demand from hyper-scale customers has been a key factor in the company's positive performance, highlighting the importance of this segment in driving revenue growth [1]