SanDisk Soars 11.6% as Q2 Revenue Jumps 61% and Guides $4.4B–$4.8B
SanDisk shares jumped 11.6%, extending a 148.01% year-to-date gain as AI-driven NAND shortages fuel sector strength. In Q2 fiscal 2026, revenue rose 61.3% to $3.025 billion, non-GAAP EPS hit $6.20 and free cash flow surged 1,985%, with Q3 revenue guided to $4.40–4.80 billion.
1. Stock Rally Driven by AI-Driven NAND Shortage
SanDisk shares gained 11.6% today, extending a 148.01% year-to-date advance as investors capitalized on surging AI infrastructure demand and persistent NAND flash constraints.
2. Q2 Fiscal 2026 Earnings Exceed Expectations
Revenue rose 61.3% year-over-year to $3.025 billion, non-GAAP EPS reached $6.20 versus the $3.54 estimate, and free cash flow jumped 1,985% to $980 million.
3. Bullish Q3 Guidance Signals Continued Momentum
Management forecast Q3 revenue between $4.40 billion and $4.80 billion, non-GAAP EPS of $12.00–$14.00 and gross margins of 65%–67%, reflecting higher-margin enterprise SSD deployments.
4. Analysts Lift Price Targets on Strong Fundamentals
Price projections now range from $580 to $1,000, with Bernstein raising its target to $580 and other firms citing AI tailwinds and structural NAND shortages as drivers for further upside.