Sandisk Stock Jumps 8% After $5.95 Billion Q3 Revenue — Sandisk Share Price
Sandisk share price jumped 8% after fiscal 2026 third-quarter results showed $5.95 billion in revenue for the three months ended April 3. The move followed a report that beat Wall Street’s $4.7 billion estimate and gave the stock another lift after a 429% gain in 2026 already. For holders, the question is now whether the business can keep turning AI storage demand into repeatable sales.
April 30 Repricing
April 30 brought the immediate reset: Sandisk released results for the quarter ended April 3, and the shares rose 8% in response. Revenue came in at $5.95 billion, or 3.5 times the year-earlier level, while adjusted earnings reached $23.41 per share. Analysts had expected $14.50 per share, and Sandisk had previously guided for $13 per share on $4.6 billion of revenue for the prior quarter.
$23.41 per share was the sharpest signal in the report. It replaced a $0.30 per share loss a year earlier and turned the quarter into more than a top-line story. For the stock, that kind of swing gives investors a cleaner line from revenue growth to profit power, which is what supports a higher multiple after an already steep run.
Edge Devices Lift 62%
62% of Sandisk’s top line last quarter came from edge devices, which include smartphones and PCs. That segment’s revenue rose 118% sequentially, tying the company’s core growth engine to products that sit closest to consumers and enterprise users. The data points to demand running through premium phones and personal computers used for local AI workloads, not just through a single customer channel.
4.8% is TrendForce’s estimate for average smartphone storage capacity growth this year, and Apple has already doubled the minimum storage capacity in its latest iPhone 17 models to 256 gigabytes. TrendForce also says the 128 GB storage configuration in Android smartphones could vanish by the end of 2026. For Sandisk, those figures suggest the storage content per device is moving higher even before counting new AI features.
$42 Billion Contract Pipeline
$42 billion in long-term contracts signed last quarter is the other number investors are likely to keep on the screen. The longest runs for five years, and Sandisk said it had already signed two new long-term contracts in the current quarter. That gives the business a longer pipeline of committed demand and supply than a one-quarter earnings beat usually implies.
26% through 2030 is Counterpoint Research’s expected annual growth rate for generative AI smartphone shipments, while Fortune Business Insights expects the AI PC market to grow 20% through 2034. If those markets expand as projected, Sandisk’s mix of edge devices and long-term contracts leaves the stock tied to a demand cycle that extends well beyond April 30. The share price already reflects a lot of optimism; the next test is whether those contracts keep turning into the same kind of revenue and earnings acceleration.
