SanDisk shares slide more than 45% from record despite Q3 datacenter memory revenue of $1.47 billion
AI Market Summary
SanDisk's results show AI-driven datacenter flash demand accelerating, supported by multiyear supply agreements with minimum contractual revenue of ~$42B and financial guarantees above $11B, plus a $6B buyback authorization. However, the stock's sharp pullback highlights rising skepticism around an AI-driven memory cycle, customer concentration risk among hyperscalers, and uncertainty on NAND vs DRAM allocation in inference deployments ahead of Q4 results.
Impact level
● Medium
Affected assets
NCSKSNDK2USD/USDT-10.70%
AI Insight · NCSKSNDK2USD/USDTAI Insight
● Neutral
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SanDisk (SNDK) reported fiscal Q3 datacenter memory revenue of $1.47 billion, up 233% sequentially, driven by demand tied to AI inference, reasoning tasks and agentic systems. The company said it signed three long-term supply contracts in Q3 with minimum contractual revenue of about $42 billion, supported by financial guarantees exceeding $11 billion. Even so, the stock is down more than 45% from its all-time highs, though the company’s outlook still points to continued growth.
