Sandisk stock jumps as AI storage squeeze drives big forecast and a longer supply deal
Shares of Sandisk jumped roughly 17% to $631.93 on Friday after the flash-storage company raised its quarterly guidance beyond Wall Street’s forecasts. The firm also announced it extended a crucial supply deal with partner Kioxia through 2034. Sandisk projected fiscal third-quarter revenue hitting a midpoint of $4.6 billion, with adjusted earnings per share at $14—far exceeding analysts’ estimates of $2.77 billion in revenue and $4.37 EPS, per LSEG data. CEO David Goeckeler summed it up: “Customers prefer supply over price.”