SanDisk Reports Strong Q3 Results Driven by Data Center Demand
SanDisk (SNDK) reported significant third-quarter growth, posting $11.03 billion in revenue and a normalized EPS of $49.51, both exceeding market consensus. The primary driver for this performance was the data center segment, which saw a massive 1,682% year-over-year increase in revenue due to surging demand for memory chips. To enhance shareholder value, the company returned $5.0 billion through share buybacks and announced an 8-for-1 stock split. While current AI capital expenditure trends remain robustly supportive of the sector, analysts suggest waiting for a price bottom before entering new positions, noting that the current P/E ratio of 4.2x is above its long-term average.
Tickers: $AMD $AMZN $GOOG $GOOGL $MU $NVDA $SKHYV $SNDK $TSLA
Topics: data center demand earnings beat memory chips share buybacks stock split
Read the full article at Seeking Alpha
Part of the story Enpro Reports Strong Q3 2026 Results Driven by Semiconductor and Aerospace Demand (12 articles)