Sandisk Corp. (NASDAQ:SNDK) is one of the 10 Stocks Turning Heads With Double-Digit Gains.
Shares of Sandisk rallied for a fifth consecutive day on Tuesday to hit a fresh all-time high, as investors increased their exposure to the company, buoyed by its stellar earnings performance and highly optimistic outlook for the fourth quarter of fiscal year 2026.
At intra-day trading, the stock surged to its highest price of $1,418.88 before trimming gains to end the session just up by 11.98 percent at $1,406.32 apiece.
Photo from Sandisk’s website
In an updated report, Sandisk Corp. (NASDAQ:SNDK) said that it swung to a net income of $3.615 billion in the third quarter of the year, marking a 287 percent improvement from the $1.933 billion net loss in the same period last year.
Revenues more than tripled to $5.95 billion from $1.695 billion year-on-year, thanks to a 233-percent jump in revenues from data centers, helped by a 118-percent increase in the share of its Edge business. Meanwhile, the consumer segment saw a drop of 10 percent.
For the fourth quarter of the fiscal period, Sandisk Corp. (NASDAQ:SNDK) is targeting to more than quadruple its revenues to a range of $7.75 billion to $8.25 billion, or an implied growth of 308 percent to 334 percent from the $1.9 billion posted in the same period a year earlier.
Non-GAAP diluted net income per share is pegged at $30 to $33, versus $0.29 year-on-year.
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