SanDisk Jumps 6% on Q2 Revenue Surge and $4.4B–$4.8B Q3 Outlook
SanDisk shares climbed 5-6% Tuesday after Micron's partnership catalyzed a memory-sector rally and structural NAND shortage forecast through 2028 drove AI memory demand. The NAND pure-play reported Q2 fiscal 2026 revenue of $3.03 billion (+61% YoY) and EPS $6.20 topped estimates, with Q3 revenue guidance of $4.4–4.8 billion and adjusted EPS $12–$14.
1. Sector Rally Catalyst
SanDisk surged alongside peers after Micron teamed up with Applied Materials to co-develop next-generation DRAM, HBM and NAND for AI systems, while a structural NAND shortage projected until 2028 amplified demand across the memory sector.
2. Q2 Financial Results
In fiscal Q2 2026, SanDisk delivered revenue of $3.03 billion, up 61% year over year, and posted EPS of $6.20 versus a consensus of $3.54, driven by hyperscaler enterprise SSD deployments.
3. Q3 Outlook and Analyst Targets
Management guided Q3 revenue of $4.4–4.8 billion with adjusted EPS of $12–$14, and analysts have set price targets between $750 and $1,000 as the stock trades at $621 midday, up 162.4% year to date.
4. Upcoming Earnings Catalyst
Investors will monitor Micron’s March 18 earnings report as another potential inflection point for the AI memory rally, which could extend momentum for SanDisk given sector interdependencies.