TLDR
- SanDisk stock is up around 7% today after reporting a 372% year-over-year revenue jump in Q4
- The company announced a massive $14 billion share buyback program
- Nvidia CEO Jensen Huang projected chip sales in 2027 will double 2026 levels, boosting AI memory stocks
- The Fed raised rates 25 basis points to 3.75%-4.00% on September 16, but a post-Fed yield retreat eased pressure on tech stocks
- CEO David Goeckeler sold $51.7 million in stock on September 14 under a pre-scheduled trading plan
SanDisk (SNDK) stock is up around 7% in Friday trading, with the gains driven by a combination of blowout quarterly earnings, a massive buyback announcement, and a broader rebound across the semiconductor sector.
The stock surged more than 6% in the prior session and has extended those gains today, putting it among the top performers in the market while the S&P 500 slips 0.2% and the Nasdaq edges down 0.1%.
SanDisk reported a 372% jump in revenue compared to the same quarter a year ago. The result came in well ahead of expectations and reflects the sharp recovery in NAND flash demand, particularly from AI-related datacenter customers.
Alongside the earnings, the company announced a $14 billion share buyback program. That is a large commitment and signals management confidence in the business at current levels.
Nvidia Boost and Fed Relief
The broader semiconductor sector got a lift from Nvidia CEO Jensen Huang, who said at an AI executive summit that chip sales in 2027 are expected to reach double 2026 levels. That projection reinforced demand expectations for high-performance NAND flash storage, which is a core component in AI server infrastructure.
The post-Fed environment also helped. The Federal Reserve raised its benchmark rate by 25 basis points on September 16 to a 3.75%-4.00% range, its first hike since 2023. Following the decision, Treasury yields and oil prices both pulled back, reducing pressure on growth stocks and triggering a rebound in AI-linked names including SanDisk.
Wall Street’s consensus remains a Buy rating on the stock, with an average 12-month price target of around $2,124.
Insider Sales Draw Attention
CEO David Goeckeler sold approximately $51.7 million in stock on September 14 under a pre-scheduled Rule 10b5-1 trading plan. CFO Luis Visoso followed with a sale of roughly $1.57 million on September 15 under a similar plan.
Both transactions were executed under plans adopted months in advance and are generally viewed as routine portfolio management rather than a signal on the stock’s direction.
SanDisk is up approximately 580% year to date, giving it a market cap of around $222.6 billion. Average daily trading volume sits at roughly 13.7 million shares.
The company’s growing focus on datacenter and advanced flash products has positioned it at the center of AI infrastructure spending, a theme that continues to attract institutional interest.
The technical sentiment signal for SNDK is currently rated Strong Buy.
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