Sandisk shares rise 10.94% intraday after strong data center memory-chip sales drive beat and raised guidance.

Sandisk surged 10.94% intraday after reporting better-than-expected Q1 earnings and raising Q2 guidance, driven by robust demand from AI data centers. The company’s fiscal first-quarter revenue of $2.31 billion and adjusted EPS of $1.22 exceeded analyst forecasts, while Q2 guidance for $3.20 EPS and $2.6 billion revenue surpassed expectations. CEO David Goeckeler highlighted strong demand for Sandisk’s technology from five major hyperscale clients, with data centers becoming the largest NAND market by 2026. Analysts responded by raising price targets, including Goldman Sachs ($280) and Morgan Stanley ($263), citing durable demand, tight supply, and margin expansion. The stock hit a record high of $228.88 and traded near $213, reflecting optimism about sustained outperformance in the NAND sector amid favorable market conditions.