New York, Jan 30, 2026, 09:45 ET — Regular session
- Shares of Sandisk surged nearly 19% in early trading following a strong forecast for profit and sales
- Company renewed a crucial flash-memory supply deal linked to its joint venture in Japan
- Investors are watching to see if tight NAND supply and AI-driven storage demand will persist into the spring
Shares of Sandisk Corp jumped Friday following an upbeat near-term forecast and steps to secure supply, pushing the stock’s streak higher. The flash-memory maker remains one of the most volatile names linked to AI plays in the market.
The stock jumped roughly 19.5%, reaching $644.34, following Thursday’s close at $539.30. 1
This shift is significant amid a tense memory cycle: prices have held steady, yet investors quickly dismiss any signs of new capacity or slowing data-center expansions. Sandisk’s forecast and its supply agreement suggest a different story.
Late Thursday, Sandisk told investors it expects fiscal third-quarter revenue and adjusted profit to come in well above Wall Street estimates. CEO David Goeckeler said big AI customers are still focused on securing product amid tightening supply. “Customers prefer supply over price,” he told Reuters, highlighting growing demand for “inference”—the process where an AI model responds to a user by pulling stored data into computing systems. 2
Sandisk reported fiscal Q2 revenue of $3.03 billion and non-GAAP diluted earnings of $6.20 per share in a filing with U.S. regulators. Data-center revenue jumped 64% sequentially, hitting $440 million. The company projects fiscal Q3 revenue between $4.40 billion and $4.80 billion, with non-GAAP diluted earnings expected in the $12 to $14 per share range. (Non-GAAP figures exclude items like stock-based compensation and separation costs.) 3
A recent Form 8-K filing included the company’s quarterly press release as an exhibit. 4
Sandisk and Japan’s Kioxia have extended their joint venture agreements at Kioxia’s Yokkaichi plant through Dec. 31, 2034, also aligning the Kitakami deal to the same date. Sandisk will pay Kioxia $1.165 billion in installments between 2026 and 2029 for manufacturing services and ongoing supply, the companies announced. 5
Strong numbers have pushed Sandisk back into the wider memory sector, where investors watch both DRAM—the speedy memory near processors—and NAND, the flash storage powering solid-state drives. The company argues AI data centers demand more of each, with storage increasingly turning into a bottleneck.
This business thrives on price swings. But if NAND supply expands quicker than anticipated — or if major cloud clients hit pause after a surge in buildout — that operating leverage, which boosted this quarter, could just as easily swing the other way.
Traders will be eyeing whether pricing comments from other memory and storage firms gain momentum, while awaiting the company’s upcoming quarterly report for clearer insight into costs, cash flow, and how the extended Japan supply deal is unfolding.
