Eric Dust: BREAKING: Sandisk (SNDK) CEO David Goeckeler said the company has signed five long-term supply agreements worth $42,000,
BREAKING: Sandisk (SNDK) CEO David Goeckeler said the company has signed five long-term supply agreements worth $42,000,000,000.
He also said the company would launch a $6 billion share buyback. The buyback authorization was effective immediately but has no expiration date.
The stock has surged more than 360% so far this year, making it the top-performing stock in the S&P 500.
Sandisk has become one of the later beneficiaries of the artificial intelligence boom, with its main product - NAND storage memory - now in high demand as AI systems have started to work with large legal documents and computer code bases.
But like its relative DRAM memory, NAND has long been subject to extreme price cycles as demand ebbs and flows.
CEO David Goeckeler said the company has signed five long-term supply agreements with customers that range between one and five years in length. Three inked during the company's third quarter ended April 3 were worth $42 billion, while the other two were signed in the current quarter.
For the current quarter, Sandisk forecast sales of $7.75 billion to $8.25 billion and adjusted profits of $30 to $33 per share, both well above LSEG estimates of $6.49 billion and $22.70 per share.
#sandisk #sndk #stocks #cryptok #everyone
Eric Dust: BREAKING: Sandisk (SNDK) CEO David Goeckeler said the company has signed five long-term supply agreements worth $42,000,
BREAKING: Sandisk (SNDK) CEO David Goeckeler said the company has signed five long-term supply agreements worth $42,000,000,000. He also said the company would launch a $6 billion share buyback. The buyback authorization was effective immediately but has no expiration date. The stock has surged more than 360% so far this year, making it the top-performing stock in the S&P 500. Sandisk has become one of the later beneficiaries of the artificial intelligence boom, with its main product - NAND storage memory - now in high demand as AI systems have started to work with large legal documents and computer code bases. But like its relative DRAM memory, NAND has long been subject to extreme price cycles as demand ebbs and flows. CEO David Goeckeler said the company has signed five long-term supply agreements with customers that range between one and five years in length. Three inked during the company's third quarter ended April 3 were worth $42 billion, while the other two were signed in the current quarter. For the current quarter, Sandisk forecast sales of $7.75 billion to $8.25 billion and adjusted profits of $30 to $33 per share, both well above LSEG estimates of $6.49 billion and $22.70 per share. #sandisk #sndk #stocks #cryptok #everyone
