SanDisk Stock Locks In $94B Backlog, Targets 80% Margins by 2030
SanDisk (NASDAQ: SNDK) stock rose nearly 14% on August 13 after the company disclosed a $93.9 billion customer backlog and set a target of 80% non-GAAP gross margins through fiscal 2030 at its Investor Day.
Speaking in Manhattan, Chairman and CEO David Goeckeler framed the event as proof that his 18-month turnaround plan is finally paying off, addressing skepticism that had built up after a rough six weeks for the stock.
The Spinoff Behind SanDisk Stock's AI Boom
SanDisk completed its split from Western Digital in February 2025 and began trading independently in late February, becoming a standalone NAND flash and solid-state drive maker just as artificial intelligence (AI) data centers began driving unprecedented demand for high-speed storage.
The latest news and stock pop comes from customers that have already signed contracts to buy $93.9 billion of SanDisk's chips over the next several years. This is prompting Goeckeler to target a 80% gross margin, meaning SanDisk aims to keep $80 of every $100 in sales as profit.
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