On August 14, SanDisk Corp. rose 4.89% in pre-market trading, trading at $1,612.13/share, extending the prior session's surge of over 13%. The continued strength follows the company's Investor Day held on August 13, where management unveiled long-term financial targets that significantly exceeded market expectations.

At the event, SanDisk projected mid-to-high-teens revenue growth for fiscal years 2028 through 2030, with non-GAAP gross margins of approximately 80%, non-GAAP operating margins of roughly 75%, and adjusted free cash flow margins of about 50%. The CFO disclosed that eight customers have committed contract values totaling $93.9 billion over their contract lifecycles. The company also pledged to return 100% of excess cash to shareholders after business investment, with $15.5 billion remaining in buyback capacity.

Additionally, SanDisk announced it has completed tapeout of its first High Bandwidth Flash chip and plans to deliver initial HBF samples for AI inference devices next year, with Meta joining an alliance to develop open HBF standards. Goldman Sachs issued a $2,200 price target, while RBC raised its target to $1,600, reinforcing bullish sentiment across the global storage sector.

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