Sandisk (SNDK) Reports $42 Billion Contracted Backlog Amid AI Growth
Published on · Source: finance.yahoo.com
AI Summary
Summarized by AI from the source belowSandisk 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.
Informational only, not financial advice. Content is AI-generated and may contain errors. How this works.
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