NEW YORK, August 6, 2026, 04:10 EDT — Nasdaq premarket trading was open. Regular trading starts at 09:30 EDT.
- Sandisk’s latest extended-hours indication was $1,243, down 8.0% from Wednesday’s close.
- Preliminary fourth-quarter revenue beat Reuters-tracked consensus by 6.9%. Adjusted earnings beat by 13.9%.
- Edge added $1.77 billion sequentially. Datacenter added $1.51 billion.
Sandisk Corporation NASDAQ:SNDK delivered sharply higher preliminary earnings, but investors sold the stock. The latest after-hours indication was $1,243, down 7.96% from Wednesday’s close. Shares had already fallen 5.4% during regular trading.
The reaction reflects a higher bar, not weak reported demand. Sandisk had climbed nearly 470% during 2026 before the release. The extended-hours price stood 47.2% below its 52-week high.
First-quarter revenue midpoint was $10.55 billion. That beat Reuters-tracked consensus by 0.8%. It missed MarketWatch-reported consensus by 2.3%. The split explains much of the selloff.
| Metric | Sandisk result or midpoint | Reuters consensus | Gap | MarketWatch consensus | Gap |
|---|---|---|---|---|---|
| Q4 revenue | $8.965 billion | $8.39 billion | +6.9% | $8.48 billion | +5.7% |
| Q4 adjusted EPS | $39.25 | $34.45 | +13.9% | $34.96 | +12.3% |
| Q1 revenue | $10.55 billion | $10.47 billion | +0.8% | $10.80 billion | -2.3% |
| Q1 adjusted EPS | $45.00 | $43.12 | +4.4% | $44.72 | +0.6% |
Percentage gaps are calculated from the reported estimates. Fourth-quarter figures remain preliminary and may change before the annual filing.
The completed quarter was much stronger. Revenue rose 51% sequentially to $8.965 billion. Adjusted earnings reached $39.25 per share. Gross margin climbed 6.2 percentage points to 84.6%.
The less obvious driver sat outside datacenters. Edge revenue added $1.77 billion from the prior quarter. Datacenter added $1.51 billion, despite growing 103%. Consumer sales declined by $264 million.
| End market | Q4 revenue | Q3 revenue | Sequential change | Contribution to net growth |
|---|---|---|---|---|
| Datacenter | $2.977 billion | $1.467 billion | +$1.510 billion | 50.1% |
| Edge | $5.432 billion | $3.663 billion | +$1.769 billion | 58.7% |
| Consumer | $556 million | $820 million | -$264 million | -8.8% |
| Total | $8.965 billion | $5.950 billion | +$3.015 billion | 100.0% |
Positive contributions exceed 100% because the consumer decline reduced net growth. Percentages are calculated from company figures.
That mix broadens the investment question beyond AI shipment volumes. Management said pricing generated about two-thirds of sequential revenue growth. Higher volumes supplied only one-third. Sustaining prices across edge products now carries more weight.
Long-term contracts provide a counterweight. Minimum committed revenue totals $93.9 billion, or 4.6 times fiscal 2026 sales. Half of fiscal 2027 output is covered. The proportion rises to two-thirds during fiscal 2028.
“That’s light years ahead of where we were just three quarters ago,” Chief Executive David Goeckeler told Reuters. Reuters
The board also added $14 billion to its repurchase program. Remaining authority now totals $15.5 billion. That equals roughly 8.4% of indicated equity value at $1,243. However, the authorization creates no obligation to repurchase shares.
Former parent Western Digital Corporation NASDAQ:WDC also weakened after beating estimates. Its premarket loss reached 11.8%. The paired reaction suggests storage expectations had outrun near-term forecasts.
| Company | Latest extended-hours move | Q4 revenue growth, quarter-on-quarter | Adjusted gross margin | EPS surprise |
|---|---|---|---|---|
| Sandisk NASDAQ:SNDK | -8.0% after hours | +51% | 84.6% | +13.9% |
| Western Digital NASDAQ:WDC | -11.8% premarket | +12% | 54.4% | +7.9% |
Sandisk’s surprise uses Reuters-tracked estimates. Western Digital’s figure uses the consensus displayed with its earnings result.
Analyst positioning remains constructive. Ten of 12 tracked analysts rate Sandisk a buy. However, most published targets preceded Wednesday’s full results.
| Analyst measure | Count or value | Share or upside from $1,243 |
|---|---|---|
| Buy ratings | 10 | 83.3% |
| Hold ratings | 2 | 16.7% |
| Sell ratings | 0 | 0.0% |
| Average target | $2,370 | +90.7% |
| Lowest target | $1,620 | +30.3% |
| Highest target | $3,050 | +145.4% |
Ratings and targets cover the previous three months. Upside calculations use the latest extended-hours indication.
The next scheduled catalyst arrives on August 13. Sandisk will hold its investor day at 09:00 EDT. Investors will seek detail on pricing floors, committed capacity and repurchase timing.
Risks remain concentrated in NAND pricing, customer timing and contract execution. Consumer revenue fell 32% sequentially. The repurchase plan may be suspended, while final audited results could differ.
Demand is not the disputed point. The valuation now rests on pricing durability across edge and datacenter markets.
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