New York, January 30, 2026, 16:03 (EST) — After-hours
- Sandisk shares jumped roughly 5% on Friday following a volatile session with big swings.
- The company projects fiscal Q3 revenue between $4.4 billion and $4.8 billion, with adjusted EPS expected to range from $12 to $14.
- Sandisk and Kioxia have pushed their Japan joint venture agreement out through 2034. Sandisk is slated to shell out $1.165 billion between 2026 and 2029.
Shares of Sandisk Corporation jumped on Friday following an upbeat profit forecast, driven by increased demand from artificial-intelligence infrastructure. The flash-storage maker’s stock climbed 4.9%, reaching $565.99 during afternoon Nasdaq trading, after fluctuating between $534.17 and $675.88.
The rally is significant since Sandisk operates in a competitive segment of the AI supply chain: NAND flash—the storage memory found in solid-state drives (SSDs)—is in demand as data centers ramp up to support growing AI workloads.
It’s not only about scaling up large models. CEO David Goeckeler told Reuters that AI is boosting demand for flash storage as well as DRAM — the high-speed memory near the processor. “Customers prefer supply over price,” he said, noting that cloud providers are expanding “inference” capacity, where AI models respond to user queries. 1
Sandisk jumped nearly 15% earlier, extending a massive 160% rally since January that’s pushed it among the S&P 500’s top gainers. The company projected fiscal Q3 revenue between $4.4 billion and $4.8 billion, with adjusted earnings of $12 to $14 per share—both well above analysts’ forecasts of $2.77 billion and $4.37, per LSEG data. Morningstar warns supply constraints may persist through 2028. Investors have also pushed up shares of Micron Technology, Seagate Technology, and Western Digital, betting on a prolonged memory upcycle. 2
An SEC filing revealed Sandisk’s fiscal second-quarter revenue jumped 31% from the previous quarter to $3.03 billion. Adjusted earnings came in at $6.20 per share for the quarter ending Jan. 2, 2026; these figures exclude stock-based compensation and separation-related expenses. Gross margin surged to 50.9%, up from 29.8% last quarter, while datacenter revenue climbed 64% sequentially, reaching $440 million. “This quarter’s performance underscores our agility,” CEO Goeckeler said in the earnings statement. Sandisk finalized its split from Western Digital in February 2025. 3
Sandisk and Japan’s Kioxia have pushed back the expiration of their joint venture agreements at Kioxia’s Yokkaichi plant to Dec. 31, 2034, extending it from the original 2029 deadline. Sandisk will shell out $1.165 billion to Kioxia for manufacturing services and supply access, spread over installments from 2026 through 2029. Kioxia CEO Nobuo Hayasaka described the move as one that “deepens our strategic partnership.” Sandisk’s Goeckeler called the venture a “thriving collaboration” in NAND research and manufacturing. 4
Analysts rushed to catch up. Raymond James’ Melissa Fairbanks bumped Sandisk to “outperform” with a $725 price target, calling it “one of the most delayed upgrades in history,” according to MarketWatch. Jefferies’ Blayne Curtis, meanwhile, labeled the NAND market a “stunning imbalance” sparked by AI inference demand. 5
The stock’s volatility has shaped the narrative as much as the figures themselves. A strong rally tends to amplify the market’s sensitivity to any signs of easing supply or resistance from customers on prices.
Memory markets shift quickly: a surge in new capacity or a slowdown in data-center spending could put pressure on prices and margins. After a rally like this, even a minor miss risks triggering heavy selling.
As the weekend approaches, focus turns to whether the rally can sustain itself when markets reopen Monday, Feb. 2. Investors will be keen on Sandisk’s upcoming quarterly filing for updates on flash supply, pricing trends, and order momentum.
