Sandisk posts 252% revenue surge in Q3 2026, boosts buyback and guidance

Sandisk Corporation reported an exceptional Q3 2026 with revenue rising 252% year-over-year and an adjusted gross margin of 78.4%, surpassing expectations. The growth is driven by a focus on high-value data center SSDs, strong operating leverage, and multi-year customer contracts. Management projects Q4 revenue between $7.75 billion and $8.25 billion, EPS of $30 to $33, and authorized a $6 billion share buyback while maintaining zero debt. Upcoming product launches and long-term supply deals are expected to sustain growth and reduce market cyclicality risks, supporting a strong buy rating with a $1,626 price target.