According to SanDisk’s earnings release on April 30, the semiconductor company’s shares surged 3,314% over the past year, from $32.11 to over $1,096, driven by a global NAND flash shortage and accelerating AI infrastructure spending. Q3 FY2026 revenue hit $5.95 billion, up 251% year over year, with gross margins expanding from 22.5% to 78.4% in a single year. The company also provided Q4 guidance of $7.75–$8.25 billion in revenue with non-GAAP gross margins of 79–81%.
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