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SanDisk Corporation reported FQ1 2026 revenue of $2.3 billion, a 21% sequential increase and 23% year-over-year growth. Non-GAAP EPS rose to $1.22, up from $0.29 in the previous quarter, supported by a gross margin of 29.9%.

Data Center revenue increased 26% to $269 million, driven by cloud and AI infrastructure needs. The Edge segment also climbed 26% to $1.387 billion, while Consumer revenue grew 11% to $652 million. On December 8, JPMorgan initiated coverage of SanDisk with a Neutral rating and a $235 price target, noting the company's potential in the AI-driven SSD market due to its partnership with Kioxia but warning that current pricing strength may be temporary. For FQ2 2026, SanDisk anticipates revenue between $2.55 billion and $2.65 billion, citing improved visibility into 2026 and 2027 as customers opt for long-term agreements for enterprise SSDs.