Stock

# Sandisk (SNDK)

Sandisk makes NAND flash memory and SSDs; fiscal Q1 2027 revenue was $11.0B, up 23% from the prior quarter and above its guidance, and it guided to $12.2B to $12.6B for Q2.

Updated Oct 30, 2026

Information and analysis only, not a recommendation to buy, sell or hold any security. The author may own securities discussed.

Researched and drafted with AI agents. Every figure is taken from a source cited on the page.

Analysis and information

## What it does

Sandisk makes NAND flash memory and products built on it. It serves three end markets: Datacenter, Edge and Consumer. It separated from Western Digital on 2025-02-21. It makes flash wafers with Kioxia through joint ventures called Flash Ventures, at eight plants in Japan.

## Role in the theme

In the Memory and storage theme, Sandisk is the NAND flash maker. Its Datacenter revenue was $4.80B in fiscal Q1 2027, up 61% from the prior quarter.

## Latest

- **2026-10-29 (fiscal Q1 2027 results):** Revenue was $11.03B, up 23% from the prior quarter and 378% from a year earlier, above the $10.30B to $10.80B guidance. GAAP gross margin was 85.0%. GAAP net income was $8.10B.
- **2026-10-29:** Non-GAAP diluted earnings per share were $49.51, above the $44.00 to $46.00 guidance. Datacenter revenue was $4.80B, about 44% of the total.
- **2026-10-29:** Sandisk repurchased about 3.2 million shares for $5.0B in the quarter. It announced an eight-for-one stock split, effective 2026-11-19.
- **2026-10-29:** Guidance for fiscal Q2 2027: revenue of $12.2B to $12.6B and non-GAAP earnings per share of $55.00 to $57.00 before the split.
- **2026-09-09:** Sandisk replaced its revolving credit commitments with a $1.5B revolving credit facility that matures on 2031-09-09.

## What to watch

- **Fiscal Q2 results** against the $12.2B to $12.6B revenue guide.
- **NAND contract prices.** TrendForce forecasts overall NAND contract prices up 15-20% in Q4 2026 from Q3.
- **Datacenter share of revenue,** about 44% in fiscal Q1.
- **Next report:** fiscal Q2 2027, date not yet announced.

## Covered in

- Theme: [Memory and storage](/research/themes/memory-storage)

## Sources

Primary means the publisher of the data or the filing; secondary means press or an aggregator.
- [Sandisk fiscal Q1 2027 results (8-K exhibit 99.1)](https://www.sec.gov/Archives/edgar/data/2023554/000162828026068243/sndkq1-27ex991xpressrelease.htm)Primary 2026-10-29
- [Sandisk fiscal Q4 2026 results](https://www.sec.gov/Archives/edgar/data/2023554/000162828026053346/sndkq4-26ex991xpressrelease.htm)Primary 2026-08-05
- [Sandisk annual report on Form 10-K, fiscal 2026](https://www.sec.gov/Archives/edgar/data/2023554/000162828026057406/sndk-20260703.htm)Primary 2026-08-17
- [Sandisk 8-K: amended loan agreement and $1.5B revolving credit facility](https://www.sec.gov/Archives/edgar/data/2023554/000119312526389293/d138343d8k.htm)Primary 2026-09-11
- [TrendForce: AI server demand sustains memory contract price increases in 4Q26](https://www.trendforce.com/presscenter/news/20260930-13258.html)Primary 2026-09-30
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