SanDisk Corp. (NASDAQ: SNDK) experienced a notable surge in its stock price on Thursday. Shares climbed by 22.38% during overnight trading, reaching $660.00. This increase followed the company’s second-quarter fiscal 2026 earnings report and the announcement of an extension of its joint venture with Kioxia Corp.
Significant Earnings Highlights
SanDisk reported impressive financial results for the second quarter of fiscal 2026. The company posted revenue of $3.03 billion, marking a 31% rise from $2.3 billion in the previous quarter. Year-over-year, revenue increased by 61% compared to $1.87 billion from the same period last year.
- Non-GAAP diluted earnings per share: $6.20, an increase from $1.22 in Q1 and $1.23 a year earlier.
- Non-GAAP gross margin: Expanded to 51.1%, a significant rise of 21.2 percentage points from 29.9% in Q1 2026.
Datacenter Segment Growth
The datacenter segment achieved remarkable growth, generating $440 million in revenue and a year-over-year increase of 76%. Other segments also performed well:
Related News
- Edge: $1.678 billion, up 63% year-over-year.
- Consumer: $907 million, up 52% year-over-year.
Future Guidance
Looking ahead, SanDisk provided guidance for the third quarter, projecting revenues between $4.4 billion and $4.8 billion. The company also anticipates non-GAAP diluted earnings per share to range from $12 to $14.
Joint Venture Extension
In addition to financial results, SanDisk announced an extension of its joint venture with Kioxia Corp., a major player in computer memory manufacturing. This agreement will run through December 31, 2034, with SanDisk committing to pay Kioxia $1.16 billion for manufacturing services over the period from 2026 to 2029.
Trading Insights
The stock’s Relative Strength Index (RSI) stands at 81.61, indicating strong momentum. SanDisk boasts a market capitalization of $79.04 billion, with a 52-week high of $546.75 and a low of $27.90. Over the past year, the stock has impressively increased by 1,438.22%.
Currently, SNDK shares are trading at approximately 98.53% of their 52-week range, positioning the stock near its annual high. With this substantial annual gain, the company’s stock exhibits resilience and a promising trajectory for continued growth. Analysts indicate a positive price trend across varying timeframes for SNDK, reinforcing its potential appeal to investors.
