Press Release

SanDisk shares jump 20% on strong Q2 outlook from AI demand

• ByStartupStory     |    February 1, 2026

SanDisk’s stock rose nearly 7% after surpassing Wall Street’s second-quarter earnings estimates, driven by increased demand for its chips amid the AI boom.

The company reported earnings of US$6.20 per share, excluding items, compared to the expected US$3.62, with revenue reaching US$3.0 billion, above the forecast of US$2.7 billion.

Shares increased over 20% in premarket trading.

For the third quarter, SanDisk projected revenue between US$4.4 billion and US$4.8 billion, exceeding the US$2.9 billion forecast, and forecasted adjusted earnings of US$12 to US$14 per share, more than double the expected US$5.10.

An analyst upgrade cited tight supply and strong data-center demand especially in data center markets, where revenue grew 64% sequentially.

The company expects third-quarter gross margins anticipated by analysts.

🔗 Source: CNBC

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