New York, June 24, 2026, 18:04 EDT
- SanDisk NASDAQ:SNDK finished off 2.5% at $1,914.46 but then jumped 9.5% in after-hours trading.
- Micron NASDAQ:MU put out a bullish Q4 forecast. The stock move pushed memory names higher late in the session.
- SanDisk’s data center revenue made up 25% last time out. Edge was 62%. That split matters for investors who see it as a pure AI data center play.
SanDisk NASDAQ:SNDK closed Wednesday down 2.5% in regular U.S. trade. But after hours, the stock jumped 9.5% to $2,097. That’s a steep move in a name already up 706.5% so far this year and 3,951.8% in twelve months. Cash trading finished before the move; after-hours action is usually thin and volatile.
SanDisk stock is in focus after Yahoo Finance called out a possible 720% rally by 2026, but investors are also looking at whether its direct data-center unit can grow fast enough to back up a $291 billion market value.
SanDisk’s most recent quarter showed a mix. Revenue for the fiscal third quarter came in at $5.95 billion, up 251% from the same quarter last year. Gross margin hit 78.4%. Data-center brought in $1.47 billion, or 25% of revenue. Edge revenue was $3.66 billion, making up 62%. The consumer segment had $820 million.
That split matters with Micron Technology NASDAQ:MU, the peer that moved the bar after hours, carrying more direct data-center exposure. Cloud memory and core data-center combined brought in $25.29 billion of Micron’s $41.46 billion for the fiscal third quarter, or around 61%. Q4 revenue guidance is $50 billion, a 21% jump on the quarter.
SanDisk is expecting more growth in Q4. The company guided for revenue of $7.75 billion to $8.25 billion, with non-GAAP EPS between $30 and $33. The midpoint is up about 34% from fiscal Q3. With Wednesday’s valuation, investors are paying just over nine times annualized Q4 guided sales, and the numbers for that quarter aren’t in yet.
Micron handed bulls more support after posting Q3 revenue of $41.46 billion and adjusted earnings of $25.11 a share, both ahead of forecasts. The company guided Q4 revenue to $50 billion, give or take $1 billion. Shares jumped over 15% after hours.
“The size and scale of the AI build out has been underestimated at every turn,” Futurum Group CEO Daniel Newman said. He expects memory to stick with “premium pricing” as long as supply stays tight. Micron CEO Sanjay Mehrotra, in prepared remarks, said those tight conditions could stretch past calendar 2027. Reuters
SanDisk CEO David Goeckeler called out a shift to “the highest-value end markets, led by Datacenter” on the last earnings call. He said SanDisk was focusing on “multi-year customer engagements backed by firm financial commitments.” Sandisk
SanDisk dropped 13% on Tuesday, logging its biggest one-day loss since February. The stock was hit as Micron, Western Digital NASDAQ:WDC, and other names in memory traded down after South Korean chip shares slid. The bear case isn’t about weak demand—it’s volatility, traders say.
Bulls say earnings estimates are starting to match the stock move. Motley Fool’s Keithen Drury wrote Wednesday that Wall Street sees SanDisk revenue up 122% in fiscal 2027 with EPS rising to $183.05 from $65.45 in fiscal 2026. At Wednesday’s close, SanDisk trades at about 10.5 times that 2027 EPS estimate.
Danil Sereda, a Seeking Alpha contributor long SanDisk, said Wednesday he sees more than 57% upside to $3,089 a share. He pointed to demand, long-term contracts, and a high-margin transition.
SanDisk faces a tight test. Investors want to see Q4 numbers showing data-center demand running ahead of the stock’s recent move. The company reports earnings in August.
Related articles: NASDAQ:SNDK
