SanDisk FQ4: Inference to Drive Demand and Visibility for Years

SanDisk’s revenue reached $8.97 billion, up 51% sequentially and 372% year-over-year, with approximately one-third of the QoQ increase coming from higher bit shipments and two-thirds from pricing. Data center revenue doubled QoQ to nearly $3 billion, for an increase of 437% for the fiscal year. The elephant in the room is the durability of the cycle. Is memory topping or is this a multi-year secular trend? SanDisk’s guidance for revenue of $10.55B for next quarter slightly missed estimates for $10.82B, somewhat fueling this debate.