AI Storage Boom Faces Its Next Test as Sandisk Earnings Date Nears

Sandisk is preparing to release its fiscal fourth-quarter and full-year 2026 results as investors evaluate whether strong artificial intelligence infrastructure demand can continue driving record NAND flash sales, margins and earnings.

The upcoming report follows a highly volatile period for Sandisk stock. Although the company has benefited from rising data-center storage requirements and limited NAND supply, its shares fell sharply in July as investors reduced exposure to some of the market’s strongest-performing memory stocks.

Key Takeaways

The Sandisk earnings date is August 5, 2026, with results expected after the US market closes and an earnings call at 4:30 p.m. Eastern Time. Investors will focus on data-center revenue, NAND pricing, gross margin, long-term customer agreements and management’s fiscal 2027 outlook.

When Does Sandisk Report Earnings?

Sandisk will report its fiscal fourth-quarter and full-year 2026 results on Wednesday, August 5. The company will hold its earnings conference call at 1:30 p.m. Pacific Time, equivalent to 4:30 p.m. Eastern Time.

A live webcast and replay will be available through Sandisk’s investor relations website. The company has also scheduled an Investor Day for August 13 at 9:00 a.m. Eastern Time, when CEO David Goeckeler, CFO Luis Visoso and other executives will discuss the company’s strategy and longer-term outlook.

The official Sandisk earnings announcement confirms both the August 5 Sandisk earnings date and the subsequent Investor Day.

Sandisk’s Guidance Points to Another Quarter of Rapid Growth

Sandisk expects fiscal fourth-quarter revenue of between $7.75 billion and $8.25 billion. The midpoint of $8 billion would represent an increase of approximately 34% from the preceding quarter and more than 320% from the $1.9 billion recorded in the corresponding period of fiscal 2025.

The company has forecast non-GAAP diluted earnings of $30 to $33 per share, compared with adjusted earnings of only $0.29 per share one year earlier. It also expects a non-GAAP gross margin of between 79% and 81%.

Some market estimates are even higher than Sandisk’s guidance. Current analyst projections tracked by earnings platforms point to approximately $8.42 billion in revenue and adjusted earnings of around $34.67 per share. Those forecasts imply that investors may expect Sandisk to exceed the upper end of its official outlook rather than simply meet its targets.

Such elevated expectations increase the risk of a negative share-price reaction if the company reports solid growth but provides conservative guidance for the new fiscal year.

Data-Center Storage Demand Drove the Previous Earnings Beat

Sandisk’s fiscal third-quarter results established a strong benchmark. Revenue reached $5.95 billion, increasing 97% sequentially and 251% year over year. Adjusted earnings climbed to $23.41 per share, while GAAP net income reached $3.62 billion.

Gross margin expanded to 78.4%, compared with 50.9% in the preceding quarter and 22.5% one year earlier. The improvement reflected higher NAND pricing and a shift towards customers and markets offering greater value.

Data Center revenue reached $1.47 billion, rising 233% sequentially and 645% from the previous year. Edge revenue increased 295% year over year to $3.66 billion, while Consumer revenue rose 44% to $820 million despite declining 10% from the prior quarter.

The company’s third-quarter results also showed operating cash flow of $3.04 billion and cash holdings of $3.74 billion. Sandisk had eliminated its long-term debt by the end of the quarter.

NAND Pricing and Long-Term Contracts Will Be Key

Artificial intelligence workloads require large amounts of fast, persistent storage, supporting demand for enterprise solid-state drives and advanced NAND products. Sandisk has benefited from that demand while constrained industry capacity has strengthened pricing and margins.

Investors will examine whether Data Center revenue maintained its rapid expansion during Q4 and whether higher average selling prices continued to support an unusually strong gross margin. Commentary on cloud providers, enterprise SSD shipments and next-generation BiCS technology may help determine whether the current growth is sustainable.

Long-term customer agreements will be another focus. Sandisk ended Q3 with three agreements under its new business model and signed another two during Q4. These multiyear arrangements include firmer financial commitments and are intended to provide greater revenue visibility while reducing the traditional cyclicality of the memory industry.

Management’s comments about contract coverage for fiscal 2027, manufacturing capacity and its partnership with Kioxia could therefore be more important than the headline quarterly numbers.

Sandisk Stock Faces High Expectations After Its July Sell-Off

Sandisk shares closed at $1,214.83 on July 31, falling approximately 5.2% during the session. The stock lost about 47% during July, its weakest month since Sandisk returned to public trading as an independent company in February 2025. Historical price data shows that the decline followed a period of exceptional gains.

The sell-off indicates that investors have become more cautious about high valuations and crowded AI-related trades. However, it also reduces the valuation pressure facing the company before its earnings announcement.

A revenue beat, margins above 81% and confident fiscal 2027 guidance could support a recovery in Sandisk stock. Weaker NAND pricing, slower data-center orders or cautious management commentary could extend the recent decline despite strong year-over-year growth.

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