TLDR
- SanDisk stock rose around 15% on Thursday after its 2026 Investor Day
- The company projected mid-to-high-teen annual revenue growth from FY2028 through FY2030
- Non-GAAP gross margins are expected to hold around 80%, with operating margins near 75%
- New long-term supply agreements now cover the majority of FY2027 and FY2028 bit shipments
- BiCS10 3D NAND technology was unveiled, improving bit density by 59% with speeds up to 4.8Gb/s
SanDisk (SNDK) stock was trading around $1,568 on Thursday, up roughly 15% after the company’s 2026 Investor Day delivered a set of long-term financial targets that surprised a market that had grown skeptical about the memory cycle.
The stock has now risen more than 3,000% over the past 12 months.
Management projected revenue growth in the mid-to-high teens annually from fiscal 2028 through fiscal 2030. Non-GAAP gross margins are expected to stabilize at around 80%, with operating margins near 75%.
Those numbers came in well above what many analysts had been modeling heading into the event.
Adjusted gross margins hit 84.6% last quarter, up from just 26.4% a year earlier. The jump reflects how tight memory supply has driven prices higher.
CFO Luis Visoso said the company plans to return all excess cash to shareholders after investing in the business. He also noted that the total NAND market is expected to surpass $500 billion by 2027, with supply remaining constrained into 2028.
Memory is a cyclical industry, and some investors had worried that supply would recover faster than expected, pulling prices and margins back down. Thursday’s investor day was largely aimed at pushing back on that concern.
Long-Term Supply Deals Lock In Revenue
SanDisk is increasingly relying on multiyear customer agreements to secure revenue well in advance. These deals now cover around half of its memory capacity in fiscal 2027, which began in July, and roughly two-thirds of capacity in fiscal 2028.
The multi-year visibility directly addressed investor concerns about how durable this cycle really is.
Next-Gen Technology on Display
The Investor Day also served as a product showcase. SanDisk unveiled its BiCS10 10th-generation 3D NAND technology, which improves bit density by 59% and delivers interface speeds of up to 4.8Gb/s.
The company also laid out a commercialization timeline for High Bandwidth Flash, a technology viewed as critical to AI inference workloads.
The announcements followed Argus Research’s upgrade of SNDK to Buy from Hold on August 10. Evercore ISI also reiterated an Outperform rating with a $2,800 price target ahead of the event.
Memory sector peers caught a lift from the positive NAND demand narrative as well. The Nasdaq gained 0.75% and the S&P 500 added 0.53% on the day.
The company’s next fiscal year began in July 2026, with long-term supply agreements already covering the majority of its bit shipments through fiscal 2028.
Stop guessing and start investing with confidence. KnockoutStocks gives you the AI insights, market intelligence, and stock research you need to spot opportunities, cut through the noise, and make smarter investment decisions — all in one powerful platform.
Sign up today and get 50% OFF full access to our premium stock picks.
Simply use coupon code SPECIAL50 at checkout to claim your exclusive discount.
Get 3 Free Stock Ebooks
Discover top-performing stocks in AI, Crypto, and Technology with expert analysis.
- Top 10 AI Stocks - Leading AI companies
- Top 10 Crypto Stocks - Blockchain leaders
- Top 10 Tech Stocks - Tech giants
