Stock Track | SanDisk Soars 5.19% Intraday on Record AI-Fueled Earnings and $6 Billion Buyback Authorization

Stock Track
05/08

SanDisk Corp.'s stock surged 5.19% during intraday trading on Friday, continuing its strong momentum in the market.

The sharp rise follows the company's exceptional fiscal third-quarter results, which showed a dramatic turnaround to a net income of $3.62 billion on sales of $5.95 billion. The earnings jump was fueled by surging NAND flash demand for AI and data center workloads, with the data center segment soaring 645% year-over-year. SanDisk also authorized a new $6 billion share repurchase program funded from operating cash flow, highlighting strong cash generation.

Management emphasized that supply remains unable to meet structurally growing AI storage demand, with multi-year customer lock-in agreements carrying minimum commitments of $42 billion significantly enhancing earnings visibility. The company is actively shifting its business mix toward high-value data center markets, positioning itself to capitalize on the AI storage super cycle.

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