Sandisk forecasts Q1 revenue above estimates on AI demand
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- Sandisk forecast Q1 revenue of $10.30B–$10.80B, with a midpoint above the analyst average of $10.47B per LSEG data
- Sandisk projected Q1 adjusted profit of $44–$46 per share, exceeding the $43.12 consensus estimate
- Sandisk reported Q4 revenue of $8.97B and adjusted profit of $39.25 per share, beating estimates of $8.39B and $34.45 respectively
- Sandisk's Q4 data-center revenue more than doubled sequentially from Q3 to $2.98B, capping its first year as a standalone company after separating from Western Digital in early 2025
- Sandisk said it has signed five additional agreements since April under its new business model, including three new customers and two expansions of existing deals
- Sandisk's board approved an additional $14 billion share repurchase, bringing total remaining buyback authorization to $15.5 billion
- Sandisk shares fell more than 3% in extended trading, despite having risen more than five-fold year-to-date amid a broader rally in memory and storage stocks
Why it matters: Sandisk's data-center revenue more than doubling sequentially to $2.98B in a single quarter is a concrete read on hyperscaler storage appetite, confirming AI infrastructure capex is still accelerating rather than plateauing. The $14 billion incremental buyback signals management confidence in continued demand, but the 3% after-hours selloff on a clear beat-and-raise shows Wall Street's bar has shifted from "did AI help?" to "how steep is the AI ramp?"
