Sandisk shares fell 13.5% after earnings, despite reporting results above its guidance. The transcript provided does not identify a specific disappointment; with the reaction so negative, the headline figures alone do not explain the selloff.
- Fiscal Q1 revenue was $11 billion, non-GAAP gross margin was 85.1%, and non-GAAP EPS was $49.51; management said results were above guidance.
- Adjusted free cash flow was $5.7 billion, and Sandisk returned $5 billion to shareholders through share repurchases.
- Management described data-center demand as strong and said the segment continued to outpace the broader market; it estimated data center has grown to roughly half of industry bits.
- Sandisk taped out its first High Bandwidth Flash memory die, with fabrication underway; samples of the first HBF-based products remain on track for next calendar year.
- Management cited growing AI-related NAND demand and customer signals extending beyond fiscal 2030, but the transcript excerpt does not provide a quantified outlook or explain the market’s negative reaction.
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