Chip Stock Investor Podcast Better Than NVIDIA? Why Memory Shortages are Sending Sandisk (SNDK) to the Moon
Feb 7, 2026
They break down Sandisk's blockbuster surge after a 2025 spin-off and a long-term JV renewal with Kioxia. They walk through a massive revenue beat and a jaw-dropping guidance boost driven by AI data center demand. Operating leverage and a projected EPS explosion get detailed attention. They debate whether memory is a cyclical commodity or a lasting market king.
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Flash Ventures Extension Secures Supply
- SanDisk extended its Flash Ventures JV with Kioxia through 2034 and will fund factory upgrades with $1.165B.
- The extension secures wafer supply and positions SanDisk to benefit from the NAND shortage driving higher prices.
Huge Revenue Beat And AI Data Center Demand
- SanDisk reported revenue just over $3B versus ~$2.7B expected and guided $4.4–$4.8B next quarter.
- Management says much of the near-term growth comes from direct sales to AI data centers upgrading long-term storage.
Operating Leverage Driving EPS Explosion
- Management guided adjusted EPS of $13 for the upcoming quarter versus analyst expectations near $4.
- High fixed costs plus rising NAND prices means price increases flow disproportionately to the bottom line via operating leverage.