SanDisk Reports Record Revenue Driven by AI Infrastructure Demand

SanDisk Corporation reported record financial results for its fourth fiscal quarter ending July 3, 2026, with revenue reaching $8.97 billion. This represents a 372% year-over-year increase, surpassing analyst projections of $8.4 billion to $8.7 billion. The company's full-year fiscal 2026 revenue rose 175% to $20.25 billion, with net income hitting $11.4 billion, a significant reversal from a $1.6 billion loss in fiscal 2025.

Growth was primarily driven by the data center segment, where revenue surged 1,298% year-over-year to $2.98 billion due to AI infrastructure demand and the ramp of Stargate enterprise SSDs. CEO David Goeckeler attributed the performance to the era of inference, stating that AI is reshaping the demand equation for NAND. To stabilize future revenue, the company signed long-term agreements with eight customers, including major hyperscalers, securing $93.9 billion in minimum contracted revenue.

Despite the record results and a $14 billion share repurchase authorization, shares fell approximately 2% in after-hours trading as first-quarter fiscal 2027 guidance of $10.3 billion to $10.8 billion largely met, rather than exceeded, Wall Street expectations. The stock remains roughly 50% below its June record high of $2,335 following a volatile July where investor concerns over the sustainability of AI spending erased over $150 billion in market value.