SanDisk’s stock price hit an all-time high of $650 per share at market open today, but has since dropped to $587.96. Despite that, it’s still an increase of over 1,500% from last year, when its stock was priced at $36 per share. This massive surge is driven by record-breaking profits for the company, which rose 7.7x year over year to $803 million, as reported by Digitimes. The company also noted in its January 29 earnings release that it will extend its joint venture with Japanese flash memory and SSD manufacturer Kioxia, as the two companies prepare to launch their next-generation 3D NAND in 2026.
This growth is primarily driven by the ongoing AI buildout, with revenue from AI data centers, hyperscalers, and semi-custom customers growing by 76%. Aside from that, revenue from industrial and automotive customers increased by 63%, while revenue from the consumer market grew by 52%. “This quarter’s performance underscores our agility in capitalizing on better product mix,” SanDisk CEO David Goeckeler said. “All at a time when the critical role that our products play in powering AI and the world’s technology is being recognized.”
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