The flash storage memory company reported strong margins as AI data centers fuel a supply crunch for the chips.
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Sandisk
’s stock popped 14% after the company crushed Wall Street’s fiscal second-quarter estimates, as the artificial intelligence boom sent demand for its chips skyrocketing.
The flash storage memory company reported earnings of $6.20 per share, excluding items, blowing past the $3.62 per share expected by analysts surveyed by FactSet. Revenue totaled $3.03 billion, topping a forecast of $2.69 billion.
Shares had jumped more than 20% in the premarket.
Die Aktie von Sandisk ist in den vergangenen zwölf Monaten um 3550 Prozent gestiegen. Der Speicherchip-Spezialist gehört aktuell…
Shares of Micron have skyrocketed 370% over the past year, while Sandisk is up more than 1100%.
Micron said it expects the total addressable market for high-bandwidth memory to hit $100 billion by 2028.
"We need more and more memory to address that demand," Micron CEO Sanjay Mehrotra told CNBC's Jim Cramer.
Asian chip stocks rose in early trading after American AI chip darling Nvidia beat earnings expectations in a strong sign for AI…
Marvell shares surged on Friday after the company beat earnings expectations and issued strong guidance on continuing AI demand.
