Sandisk Guides Q1 Revenue Above Estimates, Adds $14B Buyback
Summary
Sandisk delivered a strong Q4 beat and guided Q1 revenue to $10.30B-$10.80B, above the $10.47B consensus, with adjusted EPS of $44-$46 topping $43.12 estimates. Data-center revenue more than doubled sequentially to $2.98B, underscoring AI-driven demand for its enterprise SSDs and flash memory. The board added a $14B buyback, bringing total authorization to $15.5B. This follows yesterday's Q4 results and a brutal 50%+ drawdown from June peaks; the guidance and buyback directly counter the recent correction narrative. Five new customer agreements since April, including three new logos, point to expanding adoption of its new business model. Shares fell 3% after-hours despite the beat, likely reflecting profit-taking after a five-fold rally this year.
At the time of this announcement, SNDK was trading at $1,307.53 on NASDAQ in the Technology sector, with a market capitalization of approximately $200B. The 52-week trading range was $40.53 to $2,354.39. This news item was assessed with neutral market sentiment and an importance score of 9 out of 10. Source: Reuters.