Sandisk Can Keep On Rising Even If NAND Prices Cool

Sandisk's data center storage revenue is surging on AI-fueled demand, with repeated upside surprises versus Wall Street expectations. Sandisk is extending its JV with Kioxia Holdings, securing DRAM supply, and boosting fab output through R&D efficiency, keeping capex intensity low while expanding free cash flow margins. A newly authorized 6 billion dollar share buyback, alongside rising buyback spending, signals management's confidence in Sandisk's prospects ahead.