Sandisk stock soars 7% after blowout earnings report shows overwhelming AI demand

January 30, 2026

TL;DR

Sandisk's stock rose nearly 7% after exceeding fiscal second-quarter estimates.
Earnings per share were $6.20, significantly higher than the expected $3.62.
Revenue reached $3.03 billion, surpassing the $2.69 billion forecast.
The company's third-quarter revenue forecast of $4.4 billion to $4.8 billion beat expectations.
Third-quarter adjusted earnings are projected between $12 and $14 per share, more than double the analyst estimate.
Raymond James upgraded Sandisk's stock to an outperform rating, citing strong pricing momentum and tightening supply.
The AI revolution is increasing demand for memory chips, benefiting companies like Sandisk.
Sandisk's data center business saw a 64% sequential growth.
Expected third-quarter gross margins are between 65% and 67%, exceeding analyst expectations.
Apple also reported supply issues affecting iPhone production and mentioned rising memory prices.

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