Why Is Sandisk Stock Soaring Over 19% in Premarket Today? Earnings Crush Expectations

Sandisk Corporation (SNDK) shares rocketed over 19% in premarket trading on Friday, January 30, 2026, following exceptional fiscal second quarter 2026 earnings that dramatically exceeded Wall Street expectations. The storage solutions provider reported adjusted earnings per share of $6.20, nearly doubling the analyst estimate of $3.49, while revenue reached $3.03 billion versus expectations of $2.67 billion.

The company’s third-quarter guidance proved equally stunning, with projected revenue of $4.4-$4.8 billion and adjusted EPS of $12.00-$14.00, far surpassing consensus estimates of $2.92 billion and $4.21 respectively.

AI-Driven Datacenter Demand Powers Blowout Q2 Results

Sandisk’s fiscal second quarter 2026 performance showcased the company’s dominant position in AI-driven storage solutions. Revenue climbed 31% sequentially to $3.03 billion, with datacenter revenue jumping 64% quarter-over-quarter, fueled by strong adoption among AI infrastructure builders and technology companies deploying AI at scale.

The company reported GAAP net income of $803 million ($5.15 diluted EPS) and Non-GAAP net income of $967 million ($6.20 diluted EPS), reflecting gross margins that expanded dramatically to over 50%.

CEO David Goeckeler emphasized the company’s strategic positioning, stating that the quarter’s performance underscores their agility in capitalizing on improved product mix, accelerating enterprise SSD deployments, and strengthening market demand dynamics.

The company’s structural reset to align supply with sustained demand has positioned Sandisk to deliver industry-leading financial performance. Year-over-year comparisons proved equally impressive, with revenue up 61% and operating income surging 446% compared to Q2 FY2025.

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Stock Momentum Accelerates as Analysts Raise Price Targets

In premarket trading at 5:50 AM EST on January 30, 2026, SNDK shares jumped to $644.00, up $104.70 or 19.41% from the previous close of $527.63. The stock has experienced extraordinary momentum, surging 559% in 2025 and climbing an additional 127% year-to-date based on Thursday’s close.

The dramatic rally reflects investor enthusiasm for the company’s exposure to booming AI-driven storage demand, with the stock’s 52-week range expanding from $27.89 to $546.75.

Analysts have responded enthusiastically to the results, with multiple firms raising price targets significantly. Morgan Stanley analyst Joseph Moore raised his target to $690 from $483, noting that despite the persistent march higher in share price, earnings power continues to keep pace, and at a sub-10x PE ratio on forward estimates, he sees sustained upside.

Raymond James analyst Melissa Fairbanks highlighted that even after rallying more than 16x since the spin-off from Western Digital a year ago, further upside remains driven by an unprecedented datacenter/AI cycle. Mizuho set a new street-high price target of $600, citing massive NAND pricing tailwinds and robust AI demand.

Disclaimer: The author does not hold or have a position in any securities discussed in the article. All stock prices were quoted at the time of writing.