SanDisk beats Q3 revenue estimates with $5.95B but shares drop 6% on cautious outlook.

SanDisk reported a strong Q3 with $5.95 billion in revenue, a 97% increase year-over-year, and adjusted earnings of $23.41 per share, surpassing analyst expectations. Despite this, shares fell over 6% after hours due to a forward guidance that lacked a strong "wow factor," with Q4 revenue and earnings projections above estimates but not enough to sustain momentum. The Datacenter division led growth, tripling revenue to $1.47 billion, driven by high demand for AI-related flash storage. Industry peers Seagate and Western Digital also posted robust gains, benefiting from an oligopoly market structure that supports premium pricing amid rising AI storage needs.