Sandisk (SNDK) Reports $42 Billion Contracted Backlog Amid AI Growth

Sandisk Corporation (NASDAQ: SNDK) reported a contracted backlog between $41.6 billion and $42 billion, reflecting strong demand in the AI memory market. Fiscal Q3 2026 revenue reached $5.95 billion, marking a 97% sequential increase and a 251% year-over-year rise, with datacenter revenue increasing 645% year-over-year. Management estimates total revenue for Q4 2026 will be between $7.75 billion and $8.25 billion, and non-GAAP earnings per share will fall between $30 and $33. Goldman Sachs recently raised its price target for Sandisk to $2,200, maintaining a Buy rating based on improved earnings potential. This information is crucial for investors as it indicates substantial cash flow stability amidst market fluctuations.