SanDisk (SNDK), the flash memory solution provider, will announce its results for the third quarter of Fiscal 2026 today, April 30. SNDK stock has rallied more than 317% year-to-date, driven by robust memory demand to support the rapid growth in AI data centers. According to TipRanks’ Options Tool, options traders expect a 21.11% move in either direction in SNDK stock in reaction to Q3 FY26 earnings. This implied move is much higher than the stock’s average post-earnings move (in absolute terms) of 7.9% over the past four quarters.
Claim 55% Off TipRanks
Trade SNDK with leverage
What to Watch in SanDisk’s Earnings
Investors are looking for proof that SanDisk can back up its massive 300% YTD rally. Here are the three key areas to watch when the company reports today.
First, the market wants to see if AI data centers are buying record amounts of Enterprise SSDs. Investors will look for any new contracts linked to the “AI boom” to prove that storage is just as vital as chips for the next generation of tech.
Second, the focus shifts to NAND pricing and margins. Memory prices are expected to rise sharply due to tight supply, and investors will watch if this is actually helping profits to increase.
For context, Wall Street analysts expect the company to post revenues of $4.70 billion, up over 175% from the year-ago quarter. Meanwhile, they expect SanDisk to report EPS (earnings per share) of $14.54, reflecting a significant improvement from a loss of $0.30 in the prior-year quarter.
Third, guidance will be key. While demand is strong, supply remains limited, and investors will watch if SanDisk can meet demand or if production constraints will cap growth. The full-year 2026 outlook will likely play a major role in how the stock reacts.
Is SNDK a Good Stock to Buy?
Ahead of Q3 earnings, Wall Street has a Strong Buy consensus rating on SanDisk stock based on 13 Buys and three Holds. The average SNDK stock price target of $1,020.00 indicates 1.76% upside risk.
