Why SanDisk (SNDK) Stock Is Up 15% Today
TLDR
- SanDisk stock rose around 15% on Thursday after its 2026 Investor Day
- The company projected mid-to-high-teen annual revenue growth from FY2028 through FY2030
- Non-GAAP gross margins are expected to hold around 80%, with operating margins near 75%
- New long-term supply agreements now cover the majority of FY2027 and FY2028 bit shipments
- BiCS10 3D NAND technology was unveiled, improving bit density by 59% with speeds up to 4.8Gb/s
SanDisk (SNDK) stock was trading around $1,568 on Thursday, up roughly 15% after the companyโs 2026 Investor Day delivered a set of long-term financial targets that surprised a market that had grown skeptical about the memory cycle.
The stock has now risen more than 3,000% over the past 12 months.
Management projected revenue growth in the mid-to-high teens annually from fiscal 2028 through fiscal 2030. Non-GAAP gross margins are expected to stabilize at around 80%, with operating margins near 75%.
Those numbers came in well above what many analysts had been modeling heading into the event.
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