SanDisk (SNDK) Stock Soars 12% On S&P 100 News After Blowout Quarter
TLDR
- SanDisk stock has gained 500% year-to-date and jumped 11.9% to $1,740 after being added to the S&P 100, effective September 21.
- The company posted quarterly revenue of $8.97 billion, up 372%, with gross margins of 84.6%.
- SanDisk has secured $93.9 billion in long-term customer agreements with eight data-center clients, including three US hyperscalers.
- A new high-bandwidth flash (HBF) chip is on track for launch in 2027, with mass production in 2028, adding potential AI upside not yet in official forecasts.
- Lynx Research has set a price target of $2,450 for SNDK, citing easing volatility and more deliberate institutional buying.
SanDisk stock hit $1,740 on Friday, a gain of 11.9% in a single session, after the company was confirmed for promotion to the S&P 100 ahead of September 21. That move made SNDK the top performer in the S&P 500 for the day and pushed its market cap to roughly $273 billion. The stock is now up around 500% so far in 2026.
The numbers driving that move are hard to ignore. SanDiskโs most recent quarter showed revenue of $8.97 billion, up 372% year over year. Gross margin came in at 84.6%, and data-center revenue more than doubled sequentially to $2.98 billion. Management also projected up to $10.8 billion in revenue for the coming quarter.
โฆ Continue reading the full article at the original source below.
This content is automatically aggregated. Full credit goes to the original publisher (coincentral.com).
