NEW YORK, Sept. 4, 2026 — Sandisk Corporation NASDAQ:SNDK shares rose 10.5% Friday. The rally renewed questions for shareholders about the durability of current NAND pricing and its impact on earnings.
Sandisk filed no new documents as shares surged. Memory stocks rallied even as most of Wall Street slipped following a strong U.S. jobs report.
Sandisk was at $1,718.96 as of 2:13:45 p.m. EDT, according to Yahoo Finance. Shares moved between $1,581.00 and $1,736.50. Volume totaled 12.15 million shares.
SNDK’s intraday repricing
U.S. dollars. Quote as of .
Source: Yahoo Finance market data. Prices can move after the stated time.
The PHLX Semiconductor Index climbed about 2.7%, with Micron Technology NASDAQ:MU up 4.2% at the same time.
That strength contrasted with broader market trends. The Associated Press reported major U.S. indexes fell after August payrolls topped forecasts. Higher rate expectations often weigh on pricey growth shares.
Sandisk’s results reflected strong performance. Fiscal fourth-quarter revenue rose 51% from the prior quarter to $8.965 billion, the company reported on Aug. 5.
Higher prices drove most of the increase. Sandisk said about two-thirds of sequential growth came from pricing, with one-third from volume. GAAP gross margin was 84.6%.
Revenue climbed faster than volume
Quarterly revenue in billions of U.S. dollars; Q1 2027 is company guidance midpoint.
Source: Sandisk fiscal Q4 release. Q1 guidance range: $10.30 billion to $10.80 billion.
The first-quarter outlook sets revenue at a midpoint of $10.55 billion and non-GAAP diluted earnings per share at $45.
Annualizing the quarter’s EPS yields $180. At Friday’s close, the stock traded at about 9.6 times that rate.
The multiple assumes one strong quarter repeats through the year. Management has not forecast this scenario.
The share price signals caution. Despite Friday’s jump, Sandisk stayed roughly 27% under its $2,354.39 52-week high.
The earnings-cycle test
Sources: company results and guidance; TS2.tech calculation for the 9.6-times figure.
Capital returns add support. Sandisk increased its repurchase authorization by $14 billion, bringing the total available to $15.5 billion.
Chief Executive David Goeckeler said Sandisk had “established datacenter as a key growth pillar.” The segment posted $2.977 billion in fourth-quarter revenue, double the previous quarter.
Edge revenue totaled $5.432 billion. Consumer revenue dropped 32% from the previous quarter to $556 million. The business mix is still more diverse than just AI servers.
The cycle can shift sharply. Sandisk’s annual report cites risks from average selling prices, demand volatility and the timing of customer deployments. The company also depends on its manufacturing partnership with Kioxia Corporation.
The next quarterly report should distinguish durable earnings from gains driven by price scarcity. Revenue aligning with the guidance midpoint would confirm the run rate. A drop in gross margin would undermine the validity of a 9.6 times shortcut.
