SNDK reported Q4 revenue of $8.97B, up 372% year over year, beating Wall Street estimates.
Q1 revenue guidance of $10.3B–$10.8B fell short of the $11.16B consensus, triggering an 8% after-hours drop.
Reddit sentiment remained bullish despite the sell-off, with many users calling the dip a buying opportunity and citing strong long-term demand.
SanDisk 
Earnings Blowout and Guidance Miss
SanDisk’s fiscal Q4 results were nothing short of extraordinary. Revenue hit $8.97 billion, up 51% from the prior quarter and a staggering 372% from a year ago. Non-GAAP diluted EPS came in at $39.25, well above the $34.37 consensus estimate. Gross margin expanded to 84.6%, up 6.2 points sequentially and 58.4 points year over year. The company also reported full-year 2026 revenue of $20.25 billion, up 175% year over year, with GAAP net income of $11.43 billion.
However, the outlook for the fiscal first quarter of 2027 disappointed. SanDisk guided for revenue between $10.3 billion and $10.8 billion, below the $11.16 billion analysts had expected. Adjusted EPS guidance of $44 to $46 bracketed the $45.58 estimate. The company also announced a $14 billion share buyback program, but the guidance miss overshadowed the buyback and sent the stock lower after hours.
Reddit Reacts: Bulls vs. Bears
On r/wallstreetbets, the after-hours sell-off was met with confusion and defiance. One highly upvoted post titled “Sndk is on crack” argued that even bearish models imply a $2,000 minimum target, pointing to strong demand visibility for the next four-plus years, half of 2027 supply already spoken for, and five new long-term agreements totaling $100 billion with at least 80% margin floors. Another user posted a screenshot of a $203,332.87 purchase of 143.88 shares at an average price of $1,412.84, writing, “at least its shares… can recover if it goes down.” A third, more speculative post projected an 87-fold gain to $126,198 by November 2027, drawing a comparison to Bitcoin’s historical trajectory.
On r/stocks, the tone was more measured. A post summarizing the earnings noted the revenue beat and the guidance miss, while another highlighted the stock’s 8% after-hours decline. The discussion there focused on the disconnect between the massive earnings beat and the market’s negative reaction to the forward guidance.
The Bigger Picture
Beyond the quarterly numbers, SanDisk’s earnings call revealed a company riding a structural wave in AI-driven memory demand. The NAND market is projected to grow from $300 billion in 2026 to $500 billion in 2027, and SanDisk holds a 13% share. The company’s long-term agreements now total $100 billion, with CEOs and CFOs personally involved in negotiations—a sign of how critical memory supply has become for hyperscalers and AI infrastructure builders. The Datacenter segment alone generated $2.98 billion in Q4, up 103% sequentially, while Edge revenue surged 392% year over year to $5.43 billion.
The guidance miss, while disappointing, may reflect conservative planning rather than weakening demand. With half of 2027 supply already committed and two-thirds of 2028 supply spoken for, SanDisk’s visibility into future revenue remains exceptionally strong. For Reddit’s retail investors, the after-hours dip looked less like a warning and more like an entry point.
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